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Democratic Capitalism and Philanthropy in a Global Economy

In: Public Policy in an Entrepreneurial Economy

Author

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  • Sameeksha Desai

    (The George Mason University)

  • Zoltan J. Acs

    (The George Mason University)

Abstract

When the market creates social problems, non-market solutions may alter or equalize them. The response to social problems in many countries has been through legislative, regulatory or other government action. In many countries in the developing world, state solutions are crippled by poor funding resources for social issues, lack of technical ability to achieve adequate solutions, and in some cases, lack of government legitimacy. Given this, the ideal solutions for social problems must come from non-market and non-state sources. We argue that philanthropy, a social innovation born in the United States, has great potential to work in other countries.

Suggested Citation

  • Sameeksha Desai & Zoltan J. Acs, 2008. "Democratic Capitalism and Philanthropy in a Global Economy," International Studies in Entrepreneurship, in: Zoltan J. Acs & Roger R. Stough (ed.), Public Policy in an Entrepreneurial Economy, chapter 11, pages 281-293, Springer.
    • Handle: RePEc:spr:inschp:978-0-387-72663-2_11
    DOI: 10.1007/978-0-387-72663-2_11
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    References listed on IDEAS

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    1. Kingdon, Geeta, 1996. "The Quality and Efficiency of Private and Public Education: A Case-Study of Urban India," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 58(1), pages 57-82, February.
    2. Kenneth E. Boulding, 1962. "Notes on a Theory of Philanthropy," NBER Chapters, in: Philanthropy and Public Policy, pages 57-72, National Bureau of Economic Research, Inc.
    3. Zoltan J. Acs & David Audretsch & Ronnie J. Phillips & Sameeksha Desai, 2007. "The Entrepreneurship-Philanthropy Nexus: Nonmarket Source of American Entrepreneurial Capitalism," Papers on Entrepreneurship, Growth and Public Policy 2007-09, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    4. Thomas Ireland, 1969. "The calculus of philanthropy," Public Choice, Springer, vol. 7(1), pages 23-31, September.
    5. Zoltan J. Acs & Ronnie J. Phillips, 2008. "Entrepreneurship and Philanthropy in American Capitalism," Chapters, in: Entrepreneurship, Growth and Public Policy, chapter 34, pages 509-524, Edward Elgar Publishing.
    6. Frank G. Dickinson, 1970. "The Changing Position of Philanthropy in the American Economy," NBER Books, National Bureau of Economic Research, Inc, number dick70-1.
    7. Wren, Daniel A., 1983. "American Business Philanthropy and Higher Education in the Nineteenth Century," Business History Review, Cambridge University Press, vol. 57(3), pages 321-346, October.
    8. Mark Casson (ed.), 1990. "Entrepreneurship," Books, Edward Elgar Publishing, number 537.
    9. Albert Danielsen, 1975. "A theory of exchange, philanthropy and appropriation," Public Choice, Springer, vol. 24(1), pages 13-26, December.
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    Cited by:

    1. Boettke, Peter J. & Coyne, Christopher J., 2009. "Context Matters: Institutions and Entrepreneurship," Foundations and Trends(R) in Entrepreneurship, now publishers, vol. 5(3), pages 135-209, March.
    2. Zoltán J. Ács & Mary C. Boardman & Connie L. McNeely, 2015. "The social value of productive entrepreneurship," Chapters, in: Global Entrepreneurship, Institutions and Incentives, chapter 3, pages 42-53, Edward Elgar Publishing.
    3. Zoltan Acs, 2012. "Public Policy in an Entrepreneurial Society," Chapters, in: Michael Dietrich & Jackie Krafft (ed.), Handbook on the Economics and Theory of the Firm, chapter 36, Edward Elgar Publishing.

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    More about this item

    Keywords

    Social Problem; Social Innovation; Rockefeller Foundation; Melinda Gate Foundation; Small Business Economic;
    All these keywords.

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • P10 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - General
    • I30 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General

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