The majority is well intentioned, but that seems to be down to his father who calls the shots on the what the money is spent on. FWIW, most of Gate's money is still tied up in stock (what remains is still enormous mind). Part of his reluctance to spend on philanthropy might have been because he didn't want to sell stock, and thus lose control over his baby.
--- Michael Perelman <michael at ecst.csuchico.edu>
wrote:
> I am sure that it is not the whole story. Some of
> Gates' philanthropy seems
> to be well intentioned. Rockefeller's philanthropy
> (all 3 generations) was
> almost always strategically designed to further
> their economic interests. Thy
> Will Be Done is excellent in that respect.
>
> Doug Henwood wrote:
>
> > Michael Perelman wrote:
> >
> > >Rockefeller, like Gates, turn to philanthropy
> only after public antipathy
> > >to seemed like it could have adverse
> consequences.
> >
> > I don't think that's the whole story. I think
> people who get stinking
> > rich want to justify their lives somehow - to
> become significant
> > beyond the world of moneymaking. They want social
> capital to match
> > their economic capital. It flatters their egos,
> neutralizes any
> > residual guilt they may suffer from, and they get
> to determine where
> > they spend the money. They get to go to parties
> with interesting
> > people. Artists surround them, baying for grants.
> They're feted as
> > doers of good.
> >
> > Doug
>
> --
>
> Michael Perelman
> Economics Department
> California State University
> michael at ecst.csuchico.edu
> Chico, CA 95929
> 530-898-5321
> fax 530-898-5901
>
>
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