Private Philanthropy is Bad for Socialism - Feedback

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Philanthropy

Posted On: 01/25/08 10:49:41 AM

Age 61, MO

Adam Smith (Wealth of Nations) argued for a capitalistic free enterprise system of economics, but he acknowledged that there would be certain social costs that no private individual or company would want to undertake. Such costs would have to be handled by government. He in no way thought that these social costs should be provided by philanthropy. Taking care of "social costs" does not include redistribution of wealth such as government sponsored wellfare. Philanthropy can be dangerous when it provides money for communitarian think tanks. George Cancilla

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