"History is a wonderful thing, if only it was true"

Thursday, December 09, 2010

More on Philanth...ropy

And it keeps wealth out of the hands of government...

16 Tycoons Agree to Give Away Fortunes - WSJ.com: "Investor and new addition to the pledge, Nicolas Berggruen, 48, said he decided to give away his fortune while he was alive so he could personally take responsibility for how his money is put to use.

'Wealth is an advantage, but it also is frankly a responsibility,' he said in an interview.

After the initial Giving Pledge list came out, some critics decried it as a public-relations stunt, or the product of tax-breaks that are hurting the government's ability to offer critical services.

'The state has limits in to what it can and cannot do,' said Mr. Berggruen. 'Private enterprise can be faster and less bureaucratic than the state.'"

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