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Why Philanthropy MattersHow the Wealthy Give, and What It Means for Our Economic Well-Being$
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Zoltan J. Acs

Print publication date: 2013

Print ISBN-13: 9780691148625

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691148625.001.0001

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The Global Perspective

The Global Perspective

(p.176) Chapter 7 The Global Perspective
Why Philanthropy Matters

Zoltan J. Acs

Princeton University Press

This chapter examines the American economy and American-style capitalism in the context of the global economy. It first provides an overview of American exceptionalism before revisiting who the Americans are and comparing the American model of liberal democracy with that of East Asia and the European Union. It then reflects on what America's future looks like and what the world will look like in 2050. It concludes with an assessment of whether the American model that is spreading around the world in bits and pieces could be better promoted. The chapter suggests that American-style capitalism, with its interplay between entrepreneurship and philanthropy, on the one hand, and its balancing act between wealth and opportunity, on the other, should be encouraged despite the unequal distribution of wealth entrepreneurship creates.

Keywords:   American economy, American-style capitalism, American exceptionalism, liberal democracy, East Asia, European Union, entrepreneurship, philanthropy, wealth, opportunity

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