Why we should never rely on philanthropy

Speaking of hedge fund-based donors, the July/August 2011 edition of Ledbury Research’s High Net Worth reports that ‘Overall philanthropy levels in the US were negatively impacted by the financial crisis and last year the total amount donated by the top 50 donors fell to the lowest levels since 2000’. In other words, just when things are at their worst, philanthropy dries up. But equally absurd, there is a strong correlation between philanthropy and hedge fund bonuses. In other words, the level of generosity is directly tied to one of the most pernicious features of the economic system!

More of RJ Robinson at http://richardjrobinson.blogspot.com/

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