The Greater Good: How Philanthropy Drives the American Economy and Can Save Capitalism

In Generosity Unbound, Claire Gaudiani mounts a spirited defense of philanthropic freedom addressed to conservatives, liberals and centrists. She acknowledges the good intentions of those who favor greater regulation of private philanthropy, but powerfully demonstrates the dangers of this approach.

But this book is more than a warning. Gaudiani also uncovers the fascinating history of philanthropy in America, showing how this nation’s distinctive tradition of citizen-to-citizen generosity has been a powerful engine of economic growth, social justice, and upward mobility.

Finally, Gaudiani calls on foundation leaders, legislators, and concerned citizens to take up anew the great challenge set forth by our nation’s Founders in the Declaration of Independence.  She proposes an all-out citizen-led effort to deliver on the Declaration’s promise of life, liberty and the pursuit of happiness for all of us, particularly our poorest citizens.  The success of such a ‘Declaration Initiative’ would enable us to justly celebrate the nation’s 250th birthday on July 4th, 2026.

-The New York Observer

For more than a century, the United States has stood as a beacon of prosperity and democracy, proof that big business and big dreams could flourish side by side. Yet few Americans realize the crucial role that generosity plays in keeping that fragile balance.

A leading voice for community development, scholar and former Connecticut College president Claire Gaudiani examines the crucial role of philanthropy in American prosperity. She traces the entrepreuneurial spirit of altruism, finding that generous gifts have powerfully invested in the most critical ingredients of the American economy: people, property, and ingenuity. Rather than pitting the capitalists against the populists, Gaudiani draws a blueprint for a just future, full of opportunities, based on giving.

The Greater Good is a passionate, pragmatic, and optimistic manifesto for revitalizing the promise of the American economy.

In The Greater Good, Claire Gaudiani, one of the nation's leading voices for community development, focuses our attention squarely on the money trail of the American dream. It's not that Americans have been generous because we're rich, she argues; we're rich because we have been generous. Philanthropists invest in people, property, and ideas long before businesses or the government come into the picture, and they play a crucial role in sustaining the fragile balance between capitalism and democracy.

In this provocative and engaging book, Gaudiani measures the visible and invisible impact of philanthropy in America, and shows how it has:

fostered a highly educated workforce for the service and information sectors,

created the bulk of opportunities for poor families to gain income and participate in the economy,

built stable, clean housing and thriving business and employment districts,

and launched major, risky research efforts that led to the birth of the aviation, pharmaceutical, and financial analysis industriesall fields where America leads the world.

Gaudiani also shows how early donors to such initiatives as scholarship funds, prison reform, museums, and medical studies started economic and social ripple effects by infusing capital in the very areas economists associate with accelerating economic growth: human, physical, and intellectual capital. A new commitment to entrepreneurial philanthropy, she argues, can play a similar role in the years to come if Americans are savvy enough to spur cutting-edge technologies and asset-building for the poornot through loans or tax breaks, but through gifts.

The Greater Good is a passionate, pragmatic, and, finally, optimistic manifesto for revitalizing the promise of the American economy.

"A convincing that American generosity is not just a product of the nation's wealth but also contributes significantly to building it."The Weekly Standard

"Having devoted many fruitful years of her adult life to higher education, a field in which she demonstrated extraordinary passion and sensibility, Claire Gaudiani is now, in this remarkable volume, teaching the multifaceted values of philanthropy and its benefits to both givers and receivers."Elie Wiesel

"Gaudiani provides a thoughtful analysis of the history of philanthropy in America, its effects on society, and why Americans are uniquely generous. As she examines the directions in which philanthropy must advance in the years ahead, she offers some stark alternatives that will demand the attention of our policymakers. Insightful."Edwin J. Feulner, president, The Heritage Foundation

"The Greater Good is essential reading for citizens, philanthropists, and corporate and government leaders. Gaudiani shows clearly how generosity is crucial in today's economy."Leonard A. Lauder, chairman, The Estée Lauder Companies

"Those two classic rivals, John Adams and Thomas Jefferson, were right to agree that the 'pursuit of happiness' is America's key value. To this end, profit for profit's sake may well be less important to America than profit for philanthropy's sake. Gaudiani authoritatively and perceptively shows us why and how."Henry Luce III

"At a moment when too many rich Americans are using their wealth and power to tilt the playing field ever more in their own direction, this book reminds us that in other eras wealth and power have been used in other ways. One hopes it will prove not just a useful and fascinating history, but a real call to present-day responsibility."Bill McKibben, author of Enough

"[Gaudiani] builds her case carefully, pointing to the tremendous positive impact American philanthropy has had on human, physical, and intellectual capital, from the GI Bill and Sears Roebuck-founder Julius Rosenwald's construction of Chicago's famed Museum of Science and Industry to the formation of such nonprofits as MADD and Environmental Defense. To continue those kinds of contributions, she contends, demands eight different solutions, including making meaningful partnerships, plans that grow giving, more home ownership for low- and lower-middle-income citizens, and community centers, among others. [This book] is, indeed, an intelligent and well-reasoned argument designed to promote the greater good. And, on paper at least, it works."Booklist