During the past few years, philanthropy has taken a high profile due to increased media coverage of activists like rock star Bono and his campaign to alleviate Third World debt to developed nations. The ambitious projects of the Gates Foundation's resources and initiatives, such as eradicating malaria ; and Warren Buffett's donation in 2006 of $30 billion to the Gates Foundation made world headlines.
The purpose of philanthropy has been debated in both positive and negative terms. Some equate philanthropy with benevolence and charity for the poor and needy. Others hold that philanthropy can be any altruistic giving towards any kind of social need that is not served, underserved, or perceived as unserved or underserved by the market.
Whatever the case maybe, philanthropy is a perfectly legitimate practice and there is no question that people who are prepared to give millions for the public good are entitled to respect and appreciation. But the mere fact that they can afford to give millions does not mean they should be singled out ahead of others who dedicate themselves to public service.
According to a Boston College study, Americans are sinking $5.5 trillion to $7.4 trillion into the philanthropic industry during a 20-year period that will end in 2017. Most of the activists involved in the giving are coming up through the high-finance and tech industries. They are highly engaged in their causes, investing not just money but also time, energy and oversight.
Philanthropy is a private sector means of affecting social change without recourse to government mechanisms such as those represented by aid programs.
Do the rich in Maldives help the less priviledged by engaging in various causes to build up a stronger community?
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