New York; A tale of two systems
While charitable giving is common among the high net worth individuals of New York, London's wealthiest have not traditionally followed the same path. However, the reasons for this may go beyond the purely philanthropic, say David Stein and Richard Cassell
The UK and the US have been described as “two nations, separated by a common language”. Despite their many shared traits, there remain numerous differences between them. One such difference can be seen in the area of philanthropy: in recent years, charitable giving as a percentage of gross domestic product by Americans has more than doubled that of the English.
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