Welcome to American Philanthropy! The charity scene has changed quite a bit in the past 100 years – from the elite ranks of oil barons to the democracy of text donations. Learning a little about the history of philanthropy in the U.S. will help you understand the present and future – and make you a smarter philanthropist.
American Philanthropy
July 5th, 2011Happy Independence Day!
July 4th, 2011We know you’re as busy as we are getting ready to eat hot dogs (in celebration of America’s declaration of we’re-not-going-to-take-it-anymore), so let’s make this quick:
Q: Who was the first U.S. President to appear on a U.S. coin?
Work Is of Two Kinds
June 30th, 2011
(photo credit: Wonderlane)
Work is of two kinds: first, altering the position of matter at or near the earth’s surface relatively to other such matter; second, telling other people to do so. The first kind is unpleasant and ill paid; the second is pleasant and highly paid.
- Bertrand Russel, “In Praise of Idleness”
We all have to work. Even if we don’t have to work, we have to pretend to work (see, for example, the idle heiress halfheartedly designing handbags and “building her brand”).
So if we need to work, why not be as thoughtful as possible about it? First of all, do you agree with Bertrand’s categories of work? Can you be highly paid and unhappy? Can you be happy taking orders from someone else?
What kind of work would make YOU feel best about the way you spend your days and feed your family? What kind would help you achieve your life goals? Is it the same work?
An Oligopoly is…
June 30th, 2011An oligopoly is a situation in which a small group of organizations dominates a particular market. The actions of these individual “oligopolists” affect one another and can collectively influence prices and production in the marketplace.
Oligopolies can exist both intentionally or unintentionally. For example, Apple and Dell computers dominate the market for laptops because they tend to sell more products than their competitors. But they’re not working together, so the dominance is unintentional. On the other hand, OPEC member countries have joined together and formed a cartel to intentionally dominate the oil market and keep prices high.
Core Inflation is…
June 30th, 2011Core inflation = full (a.k.a. headline) inflation minus inflation in energy and food prices. It’s the number that monetary policy makers (like the Fed) look at when they are monitoring inflation.
Why would they ignore inflation in the two things that we all spend so much money on? The answer is that food and energy prices change all the time, in unpredictable ways. A war in the Middle East can cause oil prices to spike. A drought in the Midwest can devastate crops – reducing supply and increasing prices. But the Fed believes these are temporary events and temporary price changes. So they just ignore food and energy, and focus on the more lasting price changes of other things.
How many different types of bank accounts are there?
June 30th, 2011It’s pretty simple; once you’ve put your money in a bank, it usually lives in one of four types of accounts:
1. Checking – usually doesn’t earn interest, but the money is easy to access (like at the ATM or when you write a check)
2. Savings – earns a little bit of interest and is usually easily transferable to an attached checking account
3. CD – earns more interest than a savings account, but you agree not to take the money out for a set period of time
4. Money Market – earns more interest than a savings account, but the rate can fluctuate and there may be other account restrictions
It’s important to remember that these accounts are typically used to hold money you need today and the near future. If you have more money and are interested in earning greater return for the more distant future, talk to your financial advisor about other types of investments.
The CME is…
June 30th, 2011The CME is short for the Chicago Mercantile Exchange. The CME is one of the largest derivatives markets in the world, offering a wide range of options, futures, and other products.
Greenwashing is…
June 30th, 2011Greenwashing is when corporations falsely advertise their products or activities as eco-friendly. Companies create the perception that they are mindful of the environment in their policies and products. But… they’re not.
White Collar is…
June 30th, 2011White collar is a term used to describe a particular kind of job. Basically any work that’s not manual labor (i.e. work that’s harder on the brain than on the body) can be described as a “white collar” occupation.
Think research analysts, administrative assistants, and nurses, versus the local plumber or a high school janitor. (Those would be considered blue or pink collar occupations.)