How becoming a 'patient philanthropist' could allow you to do far more good

Abstract

Conventional philanthropy focuses on immediate action, but economist Philip Trammell advocates for “patient philanthropy,” where donors invest their funds and wait for future generations to make more impactful decisions. By letting money grow over time, donors can leverage future knowledge and resources to maximize the positive impact of their donations. Trammell argues that even amidst concerns about the future, such as financial risks or changes in societal values, the potential benefits of waiting outweigh the risks. By waiting, donors can increase the scale of their philanthropy and gain access to future knowledge that can guide more effective decisions. – AI-generated abstract.