THE CHANGING FACE OF PHILANTHROPY
The Economist: What do these trends imply for charity? First, as people's incomes and wealth grow, so will the sums going to charity—even if tomorrow's rich are no more generous than today's. In fact, Messrs Schervish and Havens contend, people become more generous as they grow richer. Not only are they more generous in life; they are also so in death. For instance, in the three years from 1995 to 1997, the value of final estates rose 65% in the United States; but bequests to heirs grew by 57% whereas charitable bequests rose 110%. Among the largest estates, the shift was even greater.

All this suggests that the money flowing to charities will rise, and quite possibly rise as a share of the economy. The populations of the rich world will increasingly be older and wealthier than ever before. Charities may benefit to an unprecedented extent. But is that really an attractive prospect, a world of burgeoning philanthropy, full of donors who want to control where their money goes and how it is spent? “You will start to hear, ‘We don't like what the wealthy are giving to. It's undemocratic’,” growls Mr Schervish. He could well be right.

The whole story (Thanks CT)