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Chicago Booth Review Podcast
What’s wrong with charity?
Mar 13, 2024
Debates on charity focus on financial aid versus self-sufficiency. Cotton Mather's unorthodox views and Franklin/Carnegie's strategic philanthropy are discussed. Carnegie emphasizes narrowing wealth disparity through philanthropy and educational endowments.
18:18
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Quick takeaways
- Charitable giving has shifted from mere handouts to empowering individuals through self-help and skill-building programs.
- Philanthropic strategies aim to create lasting societal benefits, emphasizing meritocracy and individual progress over indiscriminate almsgiving.
Deep dives
Evolution of Charitable Giving
Throughout history, charitable giving has evolved from direct help for the poor such as almsgiving to a more strategic approach. Cotton Mather, a Puritan minister, emphasized the importance of addressing idleness in both benefactors and recipients of charity. Benjamin Franklin built upon this idea with a focus on organizational philanthropy, fostering community improvements through public initiatives and programs.
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Discover
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