As Government Retrenches, Philanthropy Booms

It’s not just their money that makes the givers so powerful in public life; it’s also their nimbleness.
Advertisement Continue reading the main storyLook in any area — the arts, education, science, health, urban development — and you’ll find a growing array of wealthy donors giving record sums.
More big league givers keep emerging as the vast fortunes of a second Gilded Age are harnessed to philanthropy.
It’s true that philanthropy doesn’t have anything close to the resources of government and can’t replace vital functions of the public sector.
All told, over $20 trillion is likely to find its way to philanthropy in the next half century.

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