Friday, October 29, 2010
Giving away money to worthy causes is a good thing. Such a good thing, apparently, that the Indian government has decided to make it mandatory. The government has instituted a rule that requires Indian corporations to give 2 percent of their net income to "philanthropy."
In the U.S., corporate philanthropy tends to go disproportionately to elite institutions like art museums, opera houses, and universities, rather than to grass-roots level programs. It will be interesting to see how much of this new philanthropy will go toward addressing poverty, and how much to the country’s elite institutions.
FGS (quoting 2 Corinthians 9:7)