J
James Arbour@quality.com
Guest
It is much better in helping people to spend your money on yourself or
invest it in the
stock market.
Since the beginning of the so-called global
economy, the capitalist revolution under Ronald
Reagan and Margaret Thatcher, hundreds of millions of Third World poor
people
have moved out of poverty into the middle class. The large majority
in this success story has occurred in China and India but also smaller
countries
like Chile and Malaysia.
Spending money selfishly ironically helps many other working people. And it
is another
manifestation of Adam Smith's "Invisible Hand" at work.
For instance when you buy a new house, hundreds of workers, from the
construction
laborers and craftsmen, product manufacturers, real estate, and insurance
employees etc. make money.
Often some of the construction materials come from Third World sources
benefiting people there. The same
phenomenon occurs when you buy a new car, appliance, other product or
service.
I recall a few years back when my wife and I visited a Cuban tourist resort
for a week's
vacation. I recall that when we arrived at the resort rather late at night
all the staff were there lined up to meet our bus and clapped to welcome us.
The main reason was, of course,
that we were going to spend money and help them in their employment. Again
this is capitalism
at work, even in Cuba, a Marxist/socialist country under Castro.
The failure of government-to-government aid by the rich West to the
impoverished Third World
was made evident in the 1970s when our mainly socialist administrations
(like Trudeau's Liberals in Canada)
transferred hundreds of millions of taxpayers' money for government-run
projects while our banks
loaned billions of dollars to corrupt Marxist governments, loans which
defaulted on. Nothing was accomplished.
The poverty in these Third World nations got even worse.
Today, donors to charities operating in poor African, South American and
Asian countries are just throwing good
money after bad. Last year in Canada 82,000 federally regulated charities
took in about $40 billion in
donations from Canada. In the U.S. it would have been $400 billion or more.
And how much of this money actually
went to help poor people. Some of it went to terrorist organizations for
weapons and explosives.
The charity industry has become a growth industry in NA but it is worse than
zero sum. Yes, it does employ
many people, but these people would be doing more for society if they got
real jobs.
For charity to the poor, these people are middle-men and women. They are in
a sense, parasites.
It would be much more effective for people who want to help the suffering
poor, to give their charity gifts
directly to needy people they know, or to donate directly to a local
hospital without giving their money to a foundation
or charity institute like the Red Cross or Salvation Army.
For example, a couple of years ago at Christmas I gave a contribution to the
Salvation Army of several hundred
dollars. After which, for several years I kept getting solicitations from
the SA through the mail about every two of
three years. Just the expense of this would have consumed a big part of my
original donation.
The following article "Charities turn out tax disaster" is by Dean Beeby of
the Canadian Press. Please read it.
http://torontosun.com/News/Canada/2007/11/18/pf-4664849.html
invest it in the
stock market.
Since the beginning of the so-called global
economy, the capitalist revolution under Ronald
Reagan and Margaret Thatcher, hundreds of millions of Third World poor
people
have moved out of poverty into the middle class. The large majority
in this success story has occurred in China and India but also smaller
countries
like Chile and Malaysia.
Spending money selfishly ironically helps many other working people. And it
is another
manifestation of Adam Smith's "Invisible Hand" at work.
For instance when you buy a new house, hundreds of workers, from the
construction
laborers and craftsmen, product manufacturers, real estate, and insurance
employees etc. make money.
Often some of the construction materials come from Third World sources
benefiting people there. The same
phenomenon occurs when you buy a new car, appliance, other product or
service.
I recall a few years back when my wife and I visited a Cuban tourist resort
for a week's
vacation. I recall that when we arrived at the resort rather late at night
all the staff were there lined up to meet our bus and clapped to welcome us.
The main reason was, of course,
that we were going to spend money and help them in their employment. Again
this is capitalism
at work, even in Cuba, a Marxist/socialist country under Castro.
The failure of government-to-government aid by the rich West to the
impoverished Third World
was made evident in the 1970s when our mainly socialist administrations
(like Trudeau's Liberals in Canada)
transferred hundreds of millions of taxpayers' money for government-run
projects while our banks
loaned billions of dollars to corrupt Marxist governments, loans which
defaulted on. Nothing was accomplished.
The poverty in these Third World nations got even worse.
Today, donors to charities operating in poor African, South American and
Asian countries are just throwing good
money after bad. Last year in Canada 82,000 federally regulated charities
took in about $40 billion in
donations from Canada. In the U.S. it would have been $400 billion or more.
And how much of this money actually
went to help poor people. Some of it went to terrorist organizations for
weapons and explosives.
The charity industry has become a growth industry in NA but it is worse than
zero sum. Yes, it does employ
many people, but these people would be doing more for society if they got
real jobs.
For charity to the poor, these people are middle-men and women. They are in
a sense, parasites.
It would be much more effective for people who want to help the suffering
poor, to give their charity gifts
directly to needy people they know, or to donate directly to a local
hospital without giving their money to a foundation
or charity institute like the Red Cross or Salvation Army.
For example, a couple of years ago at Christmas I gave a contribution to the
Salvation Army of several hundred
dollars. After which, for several years I kept getting solicitations from
the SA through the mail about every two of
three years. Just the expense of this would have consumed a big part of my
original donation.
The following article "Charities turn out tax disaster" is by Dean Beeby of
the Canadian Press. Please read it.
http://torontosun.com/News/Canada/2007/11/18/pf-4664849.html