People are free to do how they like with their money, but outrageously some spend it frivolously in cheaply-made art for status or tax evasion purposes.
Bill Gates late-life philanthropy raises a counterpoint to this, in my view. The wealthy don't owe anything to anyone, but that's how a person starves to death waiting for a little mercy. Mr. Gates now invests in saving people, not in art, and that's a worthier status giver.
From a moral point of view, they should be charitable since they have so much that giving away a little bit of their fortune would have a tremendous impact on a significant amount of people while themselves being none the worse for it.
People are free to do how they like with their money, but outrageously some spend it frivolously in cheaply-made art for status or tax evasion purposes.
Bill Gates late-life philanthropy raises a counterpoint to this, in my view. The wealthy don't owe anything to anyone, but that's how a person starves to death waiting for a little mercy. Mr. Gates now invests in saving people, not in art, and that's a worthier status giver.
From a moral point of view, they should be charitable since they have so much that giving away a little bit of their fortune would have a tremendous impact on a significant amount of people while themselves being none the worse for it.