I think charitable giving has mostly secondary or tertiary benefits and those are mostly "trickle down" or just velocity of money effects. it gets some hoarded wealth into circulation which was a big issue the last 20 years with lower rates and quantitative easing etc, creating so much hoarded cash (look at corporate cash balances and hedge fund / VC / PE assets the last 10 years as a clue)

like the covid vaccines weren't possible because charity, but because science, the two are in no way equivalent. and there is evidence (not proof) from the last 150 years that capitalism enables science at a much higher multiple than charitable giving.