THE FORMER PRIME minister once dreamed of Australia as a nation of shareholders, enriched by their participation in the adventure of capitalism. Properly conceived, that is certainly one form of social engagement. If it looks a little less appealing to the punters today than it did back then, that might be because the full value of that kind of participation has not been widely or well enough understood.

Investing in our economic future is a worthwhile thing to do, and is most rewarding in the long term if, like philanthropy, it is undertaken as a form of social engagement. That’s how the finest capitalists, from Adam Smith onwards, have approached it. Such investment is a symbol of the investor’s faith in the future and in the integrity and potency of the enterprises they choose to support via their shareholding. Committed investment helps build communities and hold them together.