Posted on 07/28/2013 7:44:17 AM PDT by NotYourAverageDhimmi
edit: the beggar asked for 1000 or so, not 200. I gave 100.
bm
I would rather some of these multi billionaires do what got them their money in the first place, that is invest in new businesses and industries that provide new opportunities. Its their money, so they are, of course, free to do what they like. But capital formation and preservation does more for the economy than consumption of that capital by receivers of charity. At least in my humble opinion.
You can not cure poverty with money.
Actually, if anyone should have his money taken away, it is the crook Buffett. he uses insider info he gets from the Fed Reserve and the US govt.
If you wish to improve the lives of people in poverty, create jobs for them. In modern countries, small business creates more jobs than anyone else. Therefore the simple logic is to create small businesses to reduce poverty.
The very simplest way to do this is called “micro-banking”, which provides start up capital for small businesses in third and fourth world countries.
Importantly this is done at “ground level”, and is done intelligently, making sure that the person has a good business plan. And then, once the loan is made, the micro bank can pretty well dictate how the start-up functions until it pays its money back, to keep the new small businessman from making a destructive mistake.
In the first world, the equivalent of this would be a lot more of everything. To start with, the potential small businessman would not create his own business, but a business that would supply other businesses.
This slashes the risks from unknowns, like location and the market. All they have to do is “make it and box it up”.
But this creates a big nest egg for the potential small businessman, so they can start their *next* new business at a much larger and more orderly scale, with a lot more cushion for expenses.
Whether public or private, when charity is given so the donor can feel better about himself, rather than out of a genuine concern for the welfare of the recipient, the result is often deleterious.
Andrew Carnegie is crying in heaven. How far we’ve fallen. The Carnegie Libraries were the pride of every town that received one and the mark of a literate and upward-aspiring populace.
imho the best way the rich can invest their money is in R&D.
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