The Importance and Motives of Philanthropy

While reading through Part II - A Topography of Transactions - of John Bloom's The Genius of Money philanthropy seemed to be a reoccurring and central theme when discussing the economy and economic transactions in a broader sense. Bloom examples that, yes, the "economy" we exist in and take part in would continue to produce, consume, and even profit without the presence of philanthropy and everything would keep running like the well-oiled machine that capitalist America is. However, organizations, activities, or services that depend on gift support and charity - among those some of the most important, such as: education, research, culture, the arts, etc. would fail to see the light of day.

To myself, and Mr. Bloom as well, philanthropic or non-profitable entities prove to be the most essential and valuable aspects of our economic, social, and political well-being. Bloom even goes as far to state that, "gifting is the most important and productive component of an economic system" (72). Well...if this is the case, why don't people gift or give more? Bloom notes that a gift is 100% risk, and even though the returns and benefits you,  your community, and in some cases the world receives from that gift are immeasurable, individuals still see it as a risk.

The next chapter dives into the value of community and the personal relationship individuals need to develop when it comes to economic transactions. Even though Bloom uses a finance article from the New York Times as an example, he still notes the importance of a strong, community, and - most importantly - personal relationship when dealing with transactions and business.

All of the above points Bloom discussed are equally as important to me and I truly believe if you want your business or you as an individual to flourish and prosper economically and financially, you need to find a way to socially interact with your community and your business on a deeply personal level and participate in philanthropic activities, whether it be time or money that is donated. The reason I believe this is so essential and believe it works, is because I have witnessed it first hand.

My father, Dr. Robert J. Brosi D.D.S. (lol) owns a successful Dentistry practice in a small town right outside Yosemite National Park - Oakhurst, California. He has been in business for 20+ years and, in my mind - as well as others, is a very well respected Dentist and community member in our small town. One example of the philanthropic actives Bob, as I refer to him, participates in is Free Dentistry Day. He, and his other dentist colleagues, participate in this day and give free dental work to all members of the community. Not only do none of the dentists profit, they use their own resources, supplies, and time to give back their skill and knowledge to those less fortunate. As Bloom argues, what is the price and return of participating in something like this? Surely, in terms of economic value, there is 0% return and 100% risk involved. However, dentists - like good ol' Bob - still choose to participate every year. Rather than a charge against the profits lost through supplies, resources, materials, etc. of Free Dentistry Day, Bob - and other dentists - surely celebrate the way they help individuals and change their health for the better rather than the economical gains they could have received.

Unfortunately, not everyone think in terms like those I have discussed above and Bloom has discussed in detail. If every individual acted more altruistically, then surely more and more individuals would benefit and more would be able to participate and reap all the wonderful aspects and caveats life has to offer.


http://www.sierranewsonline.com/index.php?option=com_k2&view=item&id=4606:yhs-senior-project-helps-free-dentistry-day&Itemid=467

Above is the link to an article, written in the local newspaper, about Free Dentistry Day. My dad has a picture with his staff on the right-hand side! :)