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Why make money in the first place then.
by announcerman 9y ago
Why make money in the first place then.
- icebraining 9y agoSo you can spend it. Like, for example, on charitable causes.
- announcerman 9y agoWhy not work for charitable causes directly?
- sarabande 9y agoHis multiplier effect was higher by making tons of money and then giving it away, rather than working for charitable causes directly. For example, take two simplified cases: 1. He makes a lot of money, and as a direct result of his fortune and generosity, he can effect [1000 employees * 10 years] = 10,000 man-years of charity work 2. He works directly at a charitable institution and performs 30 direct man-years of charity work, but makes no appreciable amount of money to multiply his efforts If you're interested in a better explanation of this with regard to charity, I would check out Singer's book "The Most Good You Can Do", which is an exploration on the theory of effective altruism.
- muzani 9y agoPlus anyone making money is contributing to their work. A doctor saves lives in exchange for money. An entrepreneur solves small problems that thousands of individuals face.
- announcerman 9y agoAlright thank you, I'll give it a look.
- ceejayoz 9y agoHow likely is that to do $8B worth of good for the charity?
- rokhayakebe 9y agoDivision of Labour. That's like saying "If you work to buy a house and food, why don't just build it instead along with a garden in the back and not work?" To which the answer is it is cheaper to do what you are best at and sell the surplus to buy all the houses your new money can afford.
- tooltalk 9y agoI think I know what you are trying to say, but you are describing the idea of "competitive advantage" here.
- rokhayakebe 9y agoYou are correct, what I describe is "Comparative Advantage" not Division of Labour, although I would say CA is a result of a DL at a macro level.
- VeejayRampay 9y agoBecause he got to help a lot of people, that's the best you can hope for in the end.
- edanm 9y agoMaking money is itself a form of giving to the world. Assuming you aren't doing something illegal or something, you make money by providing goods or services that people value more than money - otherwise, they wouldn't give you money for those goods and services. You're literally creating value. You're then capturing some (but not all!) of that value you created, and rather than doing what some people do (use that value only for yourself), you're giving that value to charity.
- gorbachev 9y agoMaybe he changed his perspective over the years?
- rokhayakebe 9y agoWhy make money in the first place then. That is the wrong line of logic. Many people who have a lot of money are/were not interested in making money beyond what it would take them to have a decent life. They never made money. They made something else and that something, by consequence, generated a lot of money. For some of these guys the amount of wealth created satisfied a different need, perhaps some measure of impact, but it was never about accumulating wealth in the first place.