Why Philanthropy Matters is a useful book, appropriate to academics and an informed general readership as well as in undergraduate and graduate seminar-style classrooms (I myself am requiring it in a masters-level seminar this semester). . . . [I]t raises timely issues about the American economy, in particular the nexus of capitalism and philanthropy in America.
---Gordon E. Shockley, Independent ReviewDrawing on research conducted over 30-plus years, Acs's examination documents historically how philanthropy has affected and been affected by the entrepreneurial spirit unique to the American economic system. . . . This is a worthwhile read for U.S. economists as well as those wishing to understand how American-style capitalism and philanthropy create innovation.---Elizabeth Nelson, Library Journal
While philanthropy is generally seen as a positive practice, few view it as a sustaining capitalistic force that drives the economy. Acs seeks to change this in an informative and enlightening . . . look at philanthropy's many positive repercussions. . . . Economists will find this book helpful in crystallizing the long-term impact of philanthropy and the degree to which it influences the American economy.
The best pro-philanthropy book I know.---Tyler Cowen, Marginal Revolution
Acs develops an interesting account of American economic history as he traces the activities of philanthropists across the decades.
"Why Philanthropy Matters argues that philanthropy is the institutional element that enables the creation of great wealth and the recycling of that wealth across generations. With timely and well-grounded arguments, this breakthrough book offers a new vision of philanthropy's place in American economic thought."—Roger R. Stough, George Mason University
Finalist for the 2014 George R. Terry Book Award, Academy of Management
[E]asily the best work on the subject I have read.---Luke Johnson, Financial Times
Acs offers a well-written, well-researched account of the evolution of American capitalism.
Acs' major achievement here is to understand philanthropy's oft-neglected and uniquely American role in economic growth.---Evan Sparks, Philanthropy Magazine
The book is fast paced and highly readable.---Kathi Coon Badertscher, Enterprise & Society
Acs' effort to link philanthropy to greater income equality, opportunity and security is admirable and potentially important.---Glenn C. Altschuler, Tulsa World
"This thought-provoking book provides a deeper understanding of how the market-based capitalist system works and how it has helped to increase societal prosperity. Acs puts the role of the philanthropist in historical and institutional context, and his insights will be of considerable interest to a broad audience."—Pontus Braunerhjelm, Royal Institute of Technology
"This marvelous and insightful book provides, to my knowledge, the first link between the philanthropist and economic performance. Exceptionally original and a pleasure to read, it will induce many scholars and policymakers to reconsider the way they think about the economy and the important role played by philanthropy."—David B. Audretsch, Indiana University
In The Gospel of Wealth (1889), Andrew Carnegie urged his prosperous contemporaries to avoid 'hoarding great sums' and to give their 'surplus' wealth away during their lifetimes, to strengthen an economic system that might thereby produce some riches for all. In the more measured tones of an economist, Mr. Acs is making much the same point: A capitalist economy not only enables but requires philanthropy. Through it, entrepreneurs can support the kinds of institutions that generate discoveries and that provide pathways for other people to make their own fortunes.---Leslie Lenkowsky, Wall Street Journal
