[New Entry by Theodore M. Lechterman, Emma Saunders-Hastings, and Rob Reich on November 12, 2024.]
Philanthropy involves the voluntary contribution of money or other goods and resources for broadly public purposes. Unlike taxation, contributions are not coerced: rather, their magnitude, their direction, and often their specific use is determined by the donor’s discretion. Unlike the case of ordinary market exchange, the giver does not ask or receive payment for what she offers, though she may receive psychological, reputational, or even material benefits from her gift (e.g., she may feel a “warm glow”, see her…

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