Say no to Philanthropy?
As I was watching CNBC yesterday, there was a roundtable discussion with the heads of leading charity organizations about wealth and charity contributions. It got me thinking to an article I read over the weekend, I believe, about the wealthy donating their money to charity and other philanthropic causes. Also, after reading a post about what their future empire will be like, some of the comments had to do with scholarships and charity.
http://blogs.forbes.com/gadyepstein/2010/09/30/wh…
This link highlights Carlos Slim, one of the top 3 richest men in the world, and his views on philanthropy, and why he doesn't donate towards the Bill and Melinda Gates Foundations and other "worthwhile causes". I totally agree with him in that there are better ways to improve the life's of those than giving them money. I'm talking about capital investment. It's the proverbial " give a man a fish, he eats for a day. Teach him how to fish, he feeds himself for life"
We put too much emphasis on charity in this country. We throw money at non-profits blindedly, and never actually see results, or where, or who this money goes to. Think about this guys. It would benefit out country, and the world, to invest this money instead in infrastructure and capital to provide these people self-sustaining means of livelihood. Not just throw them money for food, medicine, and others neccessities, BUT teach them how to improve their lifes. The Bill and Melinda Gates foundation(although I lack lots of knowledge in this department) has done nothing really. I haven't seen results from them improving our school systems, education, or whatever their goals are. Can anyone tell me what great accomplishments have come from charity in the history of our country??? Not to mention these charities lack the business and financial acumen to correctly deploy these resources to their intended recipients. Don't even get me started on corruption and other "under-the-table" events that go on with these non-profits.
What are your thoughts?
I fully support philanthropy and charitable causes. I am fully against forced charity (government entitlement progams) and the bully pulpit (bono/gates/ et al).
I think to say Gates Foundation has done nothing is ludicrous. One visit to their website will change that. Look around and you'll find a charity that targets something that interests you.
"(although I lack lots of knowledge in this department)"
I stopped reading after this. All credibility lost..
I think the issue is not with charity, but with throwing your money at corporations that are charities. If you want to help people help local groups, groups with low overhead and all volunteers. Establish a college fund or help a couple poor families near you. The second you start donating to these huge charities large portions of your gift will be ate up with admin costs.
I agree with Anthony here, plus the fact that the Gates' (and others) foundation has gotten flak before for misappropriated funds makes it even less appealing.
Another thing that's not helping them attract donors like Slim is their conduct, guilt tripping people into donating as if they should be ashamed that they made something of themselves. Please.
@onewolfpack-Good point. Maybe I should of expanded on why this is. Who the heck would be an expert on one philanthropic cause? I know what their purpose is, what their goals are, and how the plan on achieving this. It's just one foundation out of literally thousands.
@Ben. Let's be real. I have looked at that site many of times. Probably more so than you my friend. This foundation works to achieve education to those who can't afford it, improve education, and improved the completion rate of said students. Also, it tries to eradicate poverty, Polio, and other diseases, much of these ambitions among other things. Why eradicate poverty in foreign countries while the poverty level in the US in increasing. The number one cause of death is obesity in America, wheres the proactive steps for this. AIDS- don't even get me started on AIDS, especially in Africa. This money can more beneficial to allocate to the RESEARCH for a cure for this disease, not just educating people and passing out condoms. I can go on an on about each point, and if a rebuttable is neccessary, I will do my best. The B&M Foundation was just ONE example, amongst thousands
And let's be honest with ourselves and see beyond our narrowly defined ambitions, education for everyone is detrimental to our society, as you can see with the for-profit-education sector currently. Not everyone should attend college, because they lack the intellectual capacity, are lazy, or just plain don't care. There is nothing wrong with that at all, but when they provide incentives for these kids to go to school, it is an absolute failure, and I have seen it on so many occasions. This B&M Gates foundation has done very very little to improve education, and I would argue that our educational system cannot be saved, under current conditions...but that can be saved for another conversation
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