Philanthropy

Philanthropy involves the donation or granting of money to various worthy charitable causes. It is seen as a way to directly effect change in society without recourse to the bureaucratic mechanisms of government. Someone who practices philanthropy is known as a philanthropist. Philanthropy is a major source of income for artistic, musical, religious, and humanitarian causes and for universities.

Social activism and philanthropy

Social activists frequently criticize philanthrophic contributions by corporations whom activists consider "suspect". An example is the Harvard, Exxon, and South Africa case. Harvard University divested itself of Exxon stock after pressure and accusations that Exxon's doing business in South Africa contributed to apartheid. But when asked if they still wanted to receive philanthropic contributions from Exxon, Harvard said "yes". Some considered this morally inconsistent. If Harvard remained a stockholder, it could have voted to stop operations in the country. Instead it walked away. Exxon did in fact stop doing business in South Africa, as did other companies like Xerox, thereby costing employees their jobs and the country several contributors to a healthy economy.

Related Topics:
Harvard University - Exxon - Apartheid - Xerox

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