Risk and Return

Over at the Wall Street Journal’s Wealth Report, Robert Frank notes:

Government outlays on physical infrastructure have declined to 2.7 percent of the gross domestic product, he says, from 3.6 percent in the 1960s. Philanthropic giving, in contrast, has jumped to nearly 2.5 percent of GDP.

This leads him to wonder:

With privatization all the rage, why not take things a step further? Why not offer today’s rich some real incentives to strengthen the country’s infrastructure with naming rights. Rather than naming bridges, airports and roads after politicians (which is weird, given that taxpayers pay for them), they could be named after private benefactors. We could have the Bill Gates International Airport in Seattle, or Icahn Avenue in Manhattan. (I’d draw the line at the Trump Tunnel.)

I hate naming rights as much as the next guy. But if private money prevents our bridges and roads from from falling down, I don’t care what they’re named. Someday I might even be able to enjoy a faster, less-crowded subway ride aboard the Buffett Express.

Hmm…. Maybe we have a potential funding mechanism for Baton Rouge’s long sought after loop?

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Technorati Tags charitable giving, infrastructure, philanthropy, Wealth

Tags: charitable giving, infrastructure, philanthropy, Wealth

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