An Exemplar for the Very Rich

John J. Miller explains why the Olin Foundations is going out of business. Olin was very perceptive, in fearing that his foundation would taken over by liberal management if it continued too long. I've thought many times how ironic it is that fortunes built in the oil and gas industries have ended up financing environmentalists who attack the businesses on which they were built. Maybe this should be mandatory, although it would probably just result in a Tag Team strategy where new foundations would be created and the funds transferred. I don't know whether anything can be done about this, but I hope more of those people who establish charitable foundations will learn from Mr. Olin's example.