Philanthropy
The best way to fight wealth aggregation is to distribute it.
Austria and Hawaii. Far apart on the globe, but linked in recent news through two good acts.
In Europe, we make note of Marlene Engelhorn who inherited her way to a substantial fortune and has shown an inspiring commitment to philanthropy. She decided to set up the "Good Council for Redistribution," a citizens group consisting of 50 randomly selected Austrians, tasked with determining how €25 million of her inheritance should be distributed!
It’s an interesting tact, empowering citizens to make impactful decisions, but it’s one she chose because it can act as a counter-lever to politicians and Government efforts.
The Good Council for Redistribution is a pretty interesting endeavor in its scope and conception, as it aims to engage people from diverse backgrounds, age groups, and social classes in shaping solutions for the greater good. Ms. Engelthorn looks to entrust the council with decision-making power, putting her hopes (and Euros!) into the importance of collective wisdom. The initiative not only highlights the generosity of a wealthy individual but also underscores the potential for citizen-driven initiatives to address societal challenges when political avenues prove insufficient.
On the other side of the globe is where we find Abigail Kawānanakoa, a descendant of Hawaii's royal family and great-granddaughter of a sugar baron. Abigail has empowered (and enriched) Native Hawaiians and those dedicated to sustained their culture through the settlement of her estate. Court documents reveal that over $100 million will be dedicated to supporting Native Hawaiian causes and marks the conclusion of the last "alii" or royal trust, emphasizing Kawānanakoa's deep commitment to advancing Hawaiian culture.
A little side note: investigating this second story of goodness led me into an hourlong sojourn into the story of how the Hawaiian monarchy was overthrown in 1893. This is a story that seems almost beyond belief. It involves, and I kid you not, the following facts:
The coup was orchestrated by a group with a name that seemingly comes straight from the French Revolution, the Committee of Safety
A document with the not-too subtle name of the Bayonet Constitution
A white guy named Thurston.
And, for good measure, a warship from Japan!
But that is decidedly not good news.
Philanthropy is.