IDEAS home Printed from https://ideas.repec.org/a/kap/sbusec/v19y2002i3p189-204.html
   My bibliography  Save this article

Entrepreneurship and Philanthropy in American Capitalism

Author

Listed:
  • Acs, Zoltan J
  • Phillips, Ronnie J

Abstract

American 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

Suggested Citation

  • Acs, Zoltan J & Phillips, Ronnie J, 2002. "Entrepreneurship and Philanthropy in American Capitalism," Small Business Economics, Springer, vol. 19(3), pages 189-204, November.
    • Handle: RePEc:kap:sbusec:v:19:y:2002:i:3:p:189-204
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0921-898X/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Zoltán J. Ács & Mary C. Boardman & Connie L. McNeely, 2015. "The social value of productive entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 3, pages 42-53, Edward Elgar Publishing.
    2. Zoltan J. Acs & Pontus Braunerhjelm, 2008. "The Entrepreneurship-Philanthropy Nexus: Implication for Internationalization," Chapters, in: Entrepreneurship, Growth and Public Policy, chapter 35, pages 525-558, Edward Elgar Publishing.
    3. Clayton, Paige & Feldman, Maryann & Nwakpuda, Emily I., 2021. "After the IPO: Entrepreneurs’ transition to philanthropy," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    4. Sameeksha Desai & Zoltan J. Acs, 2008. "Democratic Capitalism and Philanthropy in a Global Economy," International Studies in Entrepreneurship, in: Zoltan J. Acs & Roger R. Stough (ed.), Public Policy in an Entrepreneurial Economy, chapter 11, pages 281-293, Springer.
    5. Arthur Gautier & Anne-Claire Pache, 2015. "Research on Corporate Philanthropy: A Review and Assessment," Journal of Business Ethics, Springer, vol. 126(3), pages 343-369, February.
    6. João R. Faria & Franklin G. Mixon, 2018. "Entrepreneurial Philanthropy and University Creation: An Economic Model," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(3), pages 1067-1086, September.
    7. Mathias, Blake D. & Solomon, Shelby J. & Madison, Kristen, 2017. "After the harvest: A stewardship perspective on entrepreneurship and philanthropy," Journal of Business Venturing, Elsevier, vol. 32(4), pages 385-404.
    8. Kristina Jaskyte Bahr, 2019. "An Exploratory Study of Types of Innovation in US Foundations," Administrative Sciences, MDPI, vol. 9(4), pages 1-14, December.
    9. 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.
    10. Matthias Tietz & Simon Parker, 2014. "Charitable donations by the self-employed," Small Business Economics, Springer, vol. 43(4), pages 899-916, December.
    11. Cai, Meina & Caskey, Gregory W. & Cowen, Nick & Murtazashvili, Ilia & Murtazashvili, Jennifer Brick & Salahodjaev, Raufhon, 2022. "Individualism, economic freedom, and charitable giving," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 868-884.
    12. Neill Marshall & Stuart Dawley & Andy Pike & Jane Pollard, 2018. "Geographies of corporate philanthropy: The Northern Rock Foundation," Environment and Planning A, , vol. 50(2), pages 266-287, March.
    13. Bittschi, Benjamin & Borgloh, Sarah & Moessinger, Marc-Daniel, 2016. "On tax evasion, entrepreneurial generosity and fungible assets," ZEW Discussion Papers 16-024, ZEW - Leibniz Centre for European Economic Research.
    14. Magnus Henrekson, 2014. "Entrepreneurship, innovation, and human flourishing," Small Business Economics, Springer, vol. 43(3), pages 511-528, October.
    15. Magnus Henrekson, 2006. "Entrepreneurship and the welfare state: a reply," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 15(3), pages 579-593, June.
    16. Welter, Friederike & Schlepphorst, Susanne & Schneck, Stefan & Holz, Michael, 2020. "Der gesellschaftliche Beitrag des Mittelstands: Konzeptionelle Überlegungen [The societal impact of German Mittelstand: Conceptual considerations]," IfM-Materialien 283, Institut für Mittelstandsforschung (IfM) Bonn.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:sbusec:v:19:y:2002:i:3:p:189-204. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.