As generous as the charity that Bill Gates and Warren Buffett are donating, that money could be better used. Why not instead give some of it to the workers who were responsible for creating it in the first place, in the form of stocks in the company? This would make the company even more profitable and the employees richer. Or how about Microsoft developing a software, without regard for profit, that educates the world. Bill has built a company that has ruthlessly destroyed its competitors. How about creating a greener and less monopolistic company. Charity begins at home.
Buffett and Gates have made most of their wealth through stocks. They amassed these great fortunes because of the inequity in the stock market. The reality is that great boom in stocks of the last 2 decades benefited the world very little, other than a handful of players. Stories about CEOs getting generous income packages while laying off workers in America have been many.
The money used to fight HIV⁄AIDs worldwide would work better if it were used to research a cure. Science depends to large extent on funding. Charity is very important in funding scientific research. That would be the best use of the money. Alongside science is education, which reduces poverty and ignorance, which in turn prevents plagues like AIDs.
But lets be frank. Charity isn't the cure to what ails the world. Governments determine to a large extent how miserable the world is. Charities do have a benefit that they don't have to deal with politics and bureaucracy. Nonetheless, Gates must become politically active to leverage his charity giving. The role model would be Bono, the U-2 group singer. He has lobbied governments and created awareness that has some clout. Without public support and involvement the gains from any charity giving will be minimal. Lessons must be learned. Bill and Warren could use some of those funds to create public pressure for dealing with issues like global warming. They must offset the power of a president that believes the earth is flat. Wealth could be translated into action. This doesn't mean that Bill Gates has become another Al Gore. But just giving money away is not enough.
Buffett and Gates have made most of their wealth through stocks. They amassed these great fortunes because of the inequity in the stock market. The reality is that great boom in stocks of the last 2 decades benefited the world very little, other than a handful of players. Stories about CEOs getting generous income packages while laying off workers in America have been many.
The money used to fight HIV⁄AIDs worldwide would work better if it were used to research a cure. Science depends to large extent on funding. Charity is very important in funding scientific research. That would be the best use of the money. Alongside science is education, which reduces poverty and ignorance, which in turn prevents plagues like AIDs.
But lets be frank. Charity isn't the cure to what ails the world. Governments determine to a large extent how miserable the world is. Charities do have a benefit that they don't have to deal with politics and bureaucracy. Nonetheless, Gates must become politically active to leverage his charity giving. The role model would be Bono, the U-2 group singer. He has lobbied governments and created awareness that has some clout. Without public support and involvement the gains from any charity giving will be minimal. Lessons must be learned. Bill and Warren could use some of those funds to create public pressure for dealing with issues like global warming. They must offset the power of a president that believes the earth is flat. Wealth could be translated into action. This doesn't mean that Bill Gates has become another Al Gore. But just giving money away is not enough.
posted by End The Duopoly at
9:13 AM | | |
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