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Joseph Pulitzer
Crowdfunding devolves into narcissism
Crowdfunding devolves into narcissism

The iconic Statue of Liberty, positioned in New York Harbor to welcome those entering the United States, stands as a symbol of what's best about our country and the freedom it has offered so many. But it was only when I visited Lady Liberty for the first time recently that I discovered something else she represents: an early example of crowdfunding. A display in the museum on Liberty Island describes how, in 1885, Joseph Pulitzer ran an appeal to readers of his newspaper the New York World for funds to build the statue's pedestal. Some 125,000 Americans answered the call, with most of them contributing $1 or less, and the statue got its base. That is exactly the kind of...

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