In group chat, we recently went on a tangent to discuss the effectiveness of charity. (To quote one of our Braincravers, "teach a man to fish and he'll stay drunk on a boat.") Benjamin Franklin observed "that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer." Instead of just giving money away, would the philanthropists of the world be more effective at accomplishing their goals if they put their resources into building businesses?
FTA:
The Mexican billionaire, who Forbes still lists as the world's richest man, said in 2007 that he could do more to help fight poverty by building businesses than by "being a Santa Clause."
Mr. Slim's signature also has been noticeably absent from the Gates-Buffett Giving Pledge. At a conference in Syndey last month, Mr. Slim said that charity accomplishes little.
"The only way to fight poverty is with employment," he said. "Trillions of dollars have been given to charity in the last 50 years, and they don't solve anything."
...Now Mr. Slim isn't un-charitable. He has contributed hundreds of millions of dollars to his foundation and has funded millions of dollars in joint-venture projects with the Bill and Melinda Gates Foundation.
So he clearly isn't against charity entirely. His point seems to be that society would benefit more if the wealthy channeled their creative energies and talents toward building job-creating businesses rather than doling out cash. It is the 21st century billionaire version of the old adage, "give a man a fish and he eats for a day, teach him to fish and he eats for a lifetime."
...Would Bill Gates and Warren Buffett be doing more for society by putting their time and money into new businesses rather than funding philanthropy? Has philanthropy solved any major social problems in the past 50 years?
World's Richest Man: 'Charity Doesn't Solve Anything'
DISCUSS!
Original posting by Braincrave Second Life staff on Oct 20, 2010 at http://www.braincrave.com/viewblog.php?id=355
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