Wednesday, July 31, 2013

Charities and "Conscience Laundering" for the Wealthy

In a candid New York Times Op-Ed entitled "The Charitable-Industrial Complex," Peter Buffett (musician and son of Warren Buffett) discusses the concept of "conscience laundering" - "feeling better about accumulating more [wealth] than any one person could possibly need to live on by sprinkling a little around as an act of charity."  However, Buffett opines that the system that "creates vast amounts of wealth for the few" and leads to charitable acts and giving by the wealthy nevertheless "just keeps the existing structure of inequality in place."   It is an interesting read.

The New York Times published responses to the Op-Ed, cumulatively entitled "Doing a Better Job of Doing Good."

NAM

http://lawprofessors.typepad.com/nonprofit/2013/07/charities-and-conscience-laundering-by-the-wealthy.html

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