Larry's Corner

Philantropy is Changing the Face of Capitalism By Larry Di Ianni
(posted September 10, 2007)

“Wealth doesn’t mean much…it’s how you use it that gives wealth meaning.” So said Ted Turner as he pledged $1B U.S. to the United Nations Foundation. As he pledged his money, Ted Turner hoped that other billionaires would follow suit.

I thought at the time that Mr. Turner’s magnificent gesture would be viewed as quirky by the ultra rich who would never part with their hard earned investment dollars.

I was wrong.

Bill Gates and Warren Buffet have turned the quest for dollars on its head. Both have given transformational amounts of money to charity with the intention of doing good deeds for the world’s poor and disadvantaged. In fact, Bill Gates and his wife Melinda are dedicating a major part of their resources, time and talents to implementing plans that will see their contributions address major world issues that governments are not attending to, either because they cannot or will not.

Is this capitalism? Are these capitalists? Whatever happened to the Marxist maxims on dialectical materialism that was to pit the advantaged classes against the oppressed ones? Marxism was not an abstract philosophy but a determination to change the world and identification of and with the working class as the agent of that change. The worn Marxist bromides had us believing that the only purpose of acquiring great wealth is the acquisition of more wealth. This mad cycle of ever increasing resources amassed by the few would implode the capitalist system on a foundation of insatiable greed, or so the theory goes.

How does that explain Messers Turner, Gates and Buffet? These philanthropists have turned the meaning of capitalism on its head. If one acquires great wealth AND uses the fruits of their business successes for community enhancement, are the anti-business beliefs held by so many, not discredited?

Hamilton is blessed to have its share of philanthropists whose business successes are being used to advance the causes of this needy community. Names such as De Groote, Braley, Juravinsky, Foxcroft, Ng and even our redoubtable Chris Ecklund have made considerable contributions to our community. Consider Health Sciences and the contributions of Messers DeGroote, Juravinsky and Braley. These multi million dollar gifts will benefit generations to come by having improved our education, research and health systems. Is there a better philanthropic cheerleader in this city than Ron Foxcroft? I can’t think of one. Is there a quieter, more humble philanthropist than Joe Ng in our community? I can’t think of one? Is there a more diverse contributor than Chris Ecklund who sponsors such initiatives as trees for Hamilton and a million dollar bus for our Ti-Cats? I can’t think of one. And these are but a few names among many in our city who give lots to many and varied projects. And what do these good folks want in return? Are they leveraging their generosity for more dollars? Not a bit. What they want is a better community, and these leaders are leading not only with their presence and commitment but with their hard-earned dollars.

So, when the next anti-business Marxist approaches you; or when a watered-down version of the radical left from our community bemoans the business interests as being only interested in their already-deep pockets, just look them in the eye and say ever so softly but persuasively, “Turner, Gates, Buffet, DeGroote, Braley, Juravinsky, Foxcroft, Ng, Ecklund….” and walk away!

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