Following last week's speech on ethical leadership by Gilbert & Tobin managing partner Danny Gilbert, we ask a leading ethicist 'what is the value of giving?'

According to Australian ethicist Peter Singer, Australians should give a minimum of five per cent of their annual income to those in need. While Gilbert said he does not believe philanthropy should be prescriptive, he suggests three ideas for what this with money can do with it.

"First, it must not be like welfare, that is to say like a hand-out. At its worst, welfare is destructive of personal initiative and self worth. Philanthropy must empower and enable people to improve their lives. This is not easily achieved and realistic and sometimes hard-nosed thinking is required. In other words, a thoughtful and critical approach, weighing up the pros and cons and taking care in relation to unintended consequences [is needed].

Second, I always think it not just about the giving of money. What is additionally important is giving of one's own time and offering to the "other" the human face of friendship.

Third, the tone and spirit of the act of giving is profoundly meaningful. Impatient, paternalistic or patronizing philanthropy is of little worth. I can be alienating and it can compound the very problem it seeks to reedy."

Related article:

>> Leading the good life: Danny Gilbert on the importance of ethical leadership