Los Angeles Times reports that the J. Paul Getty Trust, the world's wealthiest cultural organization, announced that it is eliminating 34 of the 394 positions in its museum division to free up millions of dollars a year for art acquisitions.
Nineteen of the eliminated posts are in the Getty Museum's education department, which will shed paid teachers who lead student tours and replace them with volunteer docents.
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Senay Ataselim-Yilmaz, Chief Operating Officer, Turkish Philanthropy Funds, writes that philanthropy often solves the very problems that stems from market failure. Some social issues, however, cannot be tackled by questioning the return on investment.