Entrepreneurship and Philanthropy in American Capitalism
AbstractAmerican capitalism differs from all other forms of industrial capitalism is its historical focus on both the creation of wealth (entrepreneurship) and the reconstitution of wealth (philanthropy). Philanthropy is part of the implicit social contract that continuously nurtures and revitalizes economic prosperity. Much of the new wealth created historically has been given back to the community, to build up the great social institutions that have a positive feedback on future economic growth. This entrepreneurship-philanthropy nexus has not been fully explored by either economists or the general public. The purpose of this paper is to suggest that American philanthropists--especially those who have made their own fortunes--create foundations that, in turn, contribute to greater and more widespread economic prosperity through knowledge creation. If we do not analyze philanthropy we can understand neither how economic development occurred nor what accounts for American economic dominance. Copyright 2002 by Kluwer Academic Publishers
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Springer in its journal Small Business Economics.
Volume (Year): 19 (2002)
Issue (Month): 3 (November)
Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100338
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Zoltan J. Acs & Pontus Braunerhjelm, 2004.
"The Entrepreneurship-Philanthropy Nexus: Implication for Internationalization,"
Papers on Entrepreneurship, Growth and Public Policy
2004-23, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
- Acs, Zoltan & Braunerhjelm, Pontus, 2005. "The Entrepreneruship-Philanthropy Nexus: Implication for internationalization," Working Paper Series in Economics and Institutions of Innovation 34, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
- László Szerb, 2008. "The Examination of the Level of Entrepreneurship in Eight Central Eastern European Countries," Proceedings-6th International Conference on Management, Enterprise and Benchmarking (MEB 2008), in: György Kadocsa (ed.), 6th International Conference on Management, Enterprise and Benchmarking MEB 2008-Proceedings, pages 69-83 Óbuda University, Keleti Faculty of Business and Management.
- Henrekson, Magnus, 2014. "Entrepreneurship, Innovation and Human Flourishing," Working Paper Series 999, Research Institute of Industrial Economics, revised 15 Jan 2014.
- Magnus Henrekson, 2006. "Entrepreneurship and the welfare state: a reply," Industrial and Corporate Change, Oxford University Press, vol. 15(3), pages 579-593, June.
- Zoltan J. Acs & Sameeksha Desai, 2007. "Democratic Capitalism and Philanthropy in a Global Economy," Jena Economic Research Papers 2007-056, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.