Will America’s libraries miss out while Harvard grows still richer? Library endowment could help.
David Rothman is an indefatigable advocate for a national library endowment. He states: “Just ten Americans are together worth more than half a trillion dollars, and the assets of the top 400 U.S. billionaires added up to a cool $2.7 trillion in October 2017. Charity-minded members of the super rich love to give to elite institutions such as Harvard. Its endowment is well north of $35 billion. The Gates Giving Pledge could free up countless billions in future years for prestigious institutions like Harvard. But will America’s libraries miss out while Harvard, Yale, and Princeton grow still richer? Very possibly, if the American Library Association and other good people in the library establishment fail to act in time.”