Anup Malani: "On Corporate Philanthropy"
Much of current scholarship views corporate philanthropy as managerial waste or profiteering. In this talk, Professor Malani argues that both views are correct, and incomplete. Corporate philanthropy is the corporation’s entry into the market for private financing of public goods, also called the production of “warm glow.” This market was previously dominated by non-profit charities and the government. The feature that distinguishes corporate production of warm glow from other goods is that the corporation’s shareholders and workers are also its consumers. (Would you rather own or work