The world richest man — Carlos Slim, Mexican billionaire — said:
“The only way to fight poverty is with employment.”
He raised two questions:
- Would Bill Gates and Warren Buffett be doing more for society by putting their time and money into new businesses rather than funding philanthropy?
- Has philanthropy solved any major social problems in the past 50 years?
I agree, if you want to help the poor, giving them money is NOT the best way. The most effective and significant method, I think, is to improve the existing society system, reduce social inequality, and give the poor more opportunities and social security.