ABSTRACT
What is it that makes modern philanthropy unique; in what respect does it differ from other social activities? A practical example may help to answer these questions. A rich scrap dealer is told that he has only a few months to live. The dealer comes from a poor family and worked his way up. He is a ruthless businessman and has no children. He decides to use his accumulated capital to set up a Children’s Foundation. The foundation’s goal is ‘to promote the welfare, education and health of children’. To give another example: foundations whose goal is the fight against cancer frequently receive bequests from individuals whose partners have succumbed to the disease. From an economic point of view, the conduct of these givers is strange. They spend money but they do not get their partner back. In both examples it is not difficult to guess the motive of the givers: ‘to ensure that children have a chance’, and ‘to eradicate the disease’. In both examples other individuals benefit, individuals the givers do not know and never will. Philanthropy in this case involves care for, and commitment to, future generations.
