There's been a number of recently publicized large gifts to major universities in this country.
Columbia and the
University of Texas have been some of the beneficiaries.
John W. Kluge, an alumnus of Columbia, has donated $400 million to Columbia University.
T. Boone Pickens has donated $100 million to the University of Texas.
Both Mr. Kluge and Mr. Pickens are well known billionaires.
However, there's been a development. During this season of charitable giving and good will some questions have been raised.
Ann Bartow, Walter Kimbrough and others are among those who have raised some questions. They may have a better idea. It appears a (possible) message to this group of philanthropic billionaires is: we don’t need your money. Or possibly, they might offer that “we have a better idea on how these educational gifts should be allocated.” Or, still better, just give it to us and we will distribute the funds so that the greater good is equitably achieved.
Ann M. Bartow is an Associate Professor of Law at the
University of South Carolina School of Law and leader of the
Feminist Law Professors blog.Walter M. Kimbrough is the president of
Philander Smith College in Little Rock, Arkansas.
Ann, on her blog, has posted a major excerpt of a recent
article written by Walter M. Kimbrough endorsing this new economic approach to personal philanthropy.
Walter writes that he tired of the old, care-free philanthropic approach and flatly states: “I am becoming less and less tolerant of people who pass wealth on to the privileged and masquerade it as philanthropy.” He adds, “This simply extends the gross inequities that exist in our country — inequities that one day will come home to roost.”
Ann entitles her blog excerpt of the article: "And The Rich Get Richer."
Walter finally adds: “Our political leaders must begin to challenge the wealthy to practice real philanthropy."
Our researchers reviewed Walter and Ann’s respective backgrounds and could find no supporting evidence for any professional work done in clinical psychology which would support their abilities to discern the difference between real and fake philanthropy.
So, there you have it. A new political solution to personal philanthropy is what is needed according to Walter and Ann. Write your congresspeople.
Call us old-school but we at Think Billion$ prefer the current free-market solution. Let's all get wealthy together and exercise free economic choice (while we're still allowed to).
related::: Philander Smith must repay $477,029 to feds
