Saturday, August 21, 2010

Wealth Creation is Giving

Commenting on a recent WSJ article, Mark Perry over at Carpe Diem points out a very important and almost-always overlooked fact:

The rich and successful already gave at the office.

Entrepreneurs Can Make a Greater Contribution to Society Through Business Than Charity

If the Nordhaus analysis accurately applies to Bill Gates, almost 98% of the social returns from the value of Microsoft products have already been captured by consumers around the world, which greatly exceeds the personal fortune of Bill Gates. And the contribution to society from Bill Gates’ capitalist activities will likely far exceed the contribution to society of his charitable giving.

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