So Much More Than Money: How Pursuit of Happiness and Blessings of Liberty Enable and Connect Entrepreneurship and Philanthropy

Abstract

The article contends that entrepreneurship and philanthropy have much more in common than money. Entrepreneurship and certain approaches to philanthropy share perspectives on opportunity recognition and risk taking. More importantly, however, America's entrepreneurial and philanthropic experiences are both made possible by and exemplars or demonstrations of core principles of "pursuit of happiness" and "blessings of liberty" from America's Declaration of Independence and Constitution. The article also explores how considering charitable assets as "public money" is inconsistent with those principles and undermines both entrepreneurship and philanthropy, not just the latter. The author contends that, by adhering to and advancing these core American principles, we can expand on centuries-old traditions of hard work, innovation, and creativity that have contributed so greatly to economic growth, individual opportunity, quality of life, and human welfare.

Keywords: entrepreneur, entrepreneurship, philanthropy, "public money", "private foundations", charity, charitable, "blessings of liberty", "pursuit of happiness"