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Institutions For Future Generations$
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Iñigo González-Ricoy and Axel Gosseries

Print publication date: 2016

Print ISBN-13: 9780198746959

Published to Oxford Scholarship Online: January 2017

DOI: 10.1093/acprof:oso/9780198746959.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 22 October 2021

Philanthropy and Intergenerational Justice

Philanthropy and Intergenerational Justice

(p.228) 14 Philanthropy and Intergenerational Justice
Institutions For Future Generations

Chiara Cordelli

Rob Reich

Oxford University Press

Although intergenerational family transfers of private wealth should be limited on grounds of intergenerational justice, these same grounds can provide states with reasons to support intergenerational charitable transfers of private wealth. This is because, given their distinctive governance structure and ability to exist over long time horizons, philanthropic institutions, unlike the nuclear family, can and should play three distinctive roles in helping a society fulfil its intergenerational obligations. First, they can be harnessed to counteract the short-termism and presentism of the democratic process, in a way that promotes the long-term interests of future generations. Second, they can supplement political institutions in fulfilling the ultimate purpose of the just savings principle, in circumstances where a regression from the steady-stage state to the accumulation stage is possible but highly unlikely. Third, they can complement political institutions in securing the reproduction of a particular form of capital—social capital—over time.

Keywords:   philanthropy, charity, intergenerational justice, justice across generations, liberalism, John Rawls, social capital, risk, democracy

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