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LAW OUTSIDE THE MARKET: THE SOCIAL UTILITY OF THE PRIVATE FOUNDATION.

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Author(s): Schramm, Carl J.
Source:
Harvard Journal of Law & Public Policy. Fall2006, Vol. 30 Issue 1, p355-415. 61p.

Additional Information
- Subject Terms:
  CHARITABLE uses, trusts, & foundations -- Social aspects; CAPITALISM; FREE enterprise; PLURALISM; ECONOMIC history; SOCIAL history
- Subject Terms:
  UNITED States Report Available
- Abstract:
  The article argues that the private foundation, an institution of democratic capitalism, exists to strengthen and facilitate the mutually supporting American systems of democratic pluralism and a free-market economy. It discusses existing theories about the social utility of the private foundation. It also recalls the evolution of the American economy and society. Illustrative examples of foundations supporting economic growth and human welfare are also provided.

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