"Philanthropy, as has often been pointed out, saw itself as scientific, by opposition to old-fashioned, non-scientific charity. While charity-givers expect a return for their alms from God, and the value of this exchange of money for spiritual goods is realized instantly, philanthropy resembles a capitalist investment more than a simple commodity exchange. ... The investment of both money and the philanthrophist’s own moral capital is supposed to generate a moral profit, an idea foreign to alms-giving."
Philanthropy

January 1, 1970

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Original Language: English