The Economist July 01 2006

   The Economist , a weekly news and business publication written for top business decision-makers and opinion leaders who need a wide range of information and views on world events. It explores the close ties between domestic and international issues, business, finance, current affairs, science and technology. 

   On the cover: As Warren Buffett adds his fortune to Bill Gate's huge foundation, venture philanthropy shows how to use charitable money efficiently.

"IF YOU are the world's second-richest man, the best person to look after $31 billion of your hard-won fortune is probably the only man on the planet who has proved better at making money than you. Armedwith that insight, Warren Buffett, a Nebraskan investor who claims to have been “wired at birth toallocate capital”, this week allocated the biggest chunk of philanthropic capital in history.

What is more remarkable, Mr Buffett put ego aside and gave the money to an outfit bearing someone else's name. With the Nebraskan billions to add to $30 billion of their own, Bill and Melinda Gates will bein charge of a foundation the size of a multinational company such as Disney, Dell or Honda. Mr Buffett'ssplendid liberality, announced this week in Fortune, is noteworthy for more than its magnitude. His example to plutocrats everywhere amounts to an altruistic call to action, part of an attempt with MrGates to make philanthropy as much about the doing as about the donating. "

Useful Links:

• Economist.com homepage of The Economist
• an article on the vocabulary of The Economist editorials
• The Economist Group website providing group information and links to all group publications such as CFO, Roll Call and European Voice
• Economist 1993 Ruth Dudley Edwards’ retrospective on The Economist, written on the occasion of its 150th year of publication
• ebusinessforum Part of the Economist Intelligence Unit. Has free articles from The Economist
• Some issues from the inaugural issues in 1843, hosted at ibiblio

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