The creation of wealth (entrepreneurship) and the reconstitution of wealth (philanthropy) differentiates American capitalism from other forms of capitalism. A new area of research, entrepreneurship philanthropy, will facilitate the economists' and general public's understanding of the role of...

What differentiates American capitalism from all other forms of industrial capitalism is a historical focus on both the creation of wealth (entrepreneurship) and the reconstitution of wealth (philanthropy). Philanthropy has been part of the implicit American social contract that continuously...