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Philanthropy and Inequality: Giving for Social Change

You’re listening to Pacifica Radio’s Democracy Now!, broadcasting live from Wall Street, where the financial firms are giving themselves a record $13 billion in bonuses this year, up 18 percent from last year. And if you plan on ringing in the new millenium in a New York City restaurant, you would need a hefty Wall Street bonus to afford it. For example, dinner at one elegant restaurant, Chanterelle, was $100-$175 on December 31, 1994. This year it’s $2,500 per person. And the newly renovated Russian Tea Room is charging $500-$900 this year for a seven-course banquet meal, as opposed to $60 five years ago.

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