So Buffet's giving away his fortune

[Dport]

I've been thinking about Warren Buffet giving away half his fortune to charity.

What do you think would do more good, investing it in industry or giving it away to charity?

Seems to me a longer lasting solution would be to invest in industry in foreign countries. Let's face it we have less than 5% unemployment here, it ain't going to get any better.

[PossumKop]

Invest in alternitive fuel research. Some place that will actually come up with something.

[LOKNLOD]

I have a daughter on the way, and I will change her name to "Charity" if we can convince ol' Warren to donate.

[Sean]

Charity, there are plenty of people who'll invest in industry and research, especially people who are looking to profit from it in the long run.

If you consider the Gates foundations, keep in mind they invest their charity contributions into industry through medical research, so though you're donating to a charity you are giving to the industries.

Why invest in helping third world countries make more money, when they are dying of AIDS and other disease?

[Dport]

Charity, there are plenty of people who'll invest in industry and research, especially people who are looking to profit from it in the long run.

If you consider the Gates foundations, keep in mind they invest their charity contributions into industry through medical research, so though you're donating to a charity you are giving to the industries.

They're in effect investing in industries.

Why invest in helping third world countries make more money, when they are dying of AIDS and other disease?

Are you familiar with Adam Smith? If we get their economies rolling they'll have money to address public health. Government feeds off the economy. It shouldn't be the other way around.

[Sean]

I can appreciate what you're saying, but I think the problem with a lot of the third world countries is a serious lack of true government and rampant corruption.

I wouldn't invest a dime in a company who was under the control of a corrupt government official, they could on day seize your assets and I think these businessmen with their billions feel the same way. 'I've worked to hard to give my money to an unstable economy'. So instead they've invested the money in companies and industries that are tried and true. The people making the biggest steps towards eradicating AIDS aren't governments, it's WHO, Red Cross, those types of organizations.

But like I said, I understand and appreciate your perspective, but I think the countries most effected by the diseases that the Gates Foundation donates too are too economically unstable to invest in.

[Dport]

I can appreciate what you're saying, but I think the problem with a lot of the third world countries is a serious lack of true government and rampant corruption.

I wouldn't invest a dime in a company who was under the control of a corrupt government official, they could on day seize your assets and I think these businessmen with their billions feel the same way. 'I've worked to hard to give my money to an unstable economy'. So instead they've invested the money in companies and industries that are tried and true. The people making the biggest steps towards eradicating AIDS aren't governments, it's WHO, Red Cross, those types of organizations.

But like I said, I understand and appreciate your perspective, but I think the countries most effected by the diseases that the Gates Foundation donates too are too economically unstable to invest in.

And I understand your point about corrupt governments.
I guess it's the old chicken and egg. You really need a properous country to have government that isn't corrupt, but you need a government that isn't corrupt to have a prosperous country. So what to do?

[subzero]

I've been thinking about Warren Buffet giving away half his fortune to charity.

What do you think would do more good, investing it in industry or giving it away to charity?

Seems to me a longer lasting solution would be to invest in industry in foreign countries. Let's face it we have less than 5% unemployment here, it ain't going to get any better.

Buffet is doing neither. He's giving a big chunk to his kids (through their respective foundations) and to his best friend (who doesn't need the dough). I am not inspired.

If I had that much moolah and I was looking to give it away, I'd go a slightly different route. Half to medical research to try and find a cure for viral diseases (no cushy lifetime grants though), half to explore space. The Star Trek geek in me knows that it's our destiny to reach out to the stars...and conquer them!

[M4arc]

I think he should donate it all to cancer research. By doing so he would not only be making an investment locally but globally and his investment could, potentially, have a direct impact on each and every one of us.

[Sean]

I think he should donate it all to cancer research. By doing so he would not only be making an investment locally but globally and his investment could, potentially, have a direct impact on each and every one of us.

The Gates Foundation is dedicated medical and educational advances. Money goes to various illnesses that effect third-world countries.

From their official statement:
"We support efforts to prevent and treat diseases and conditions that meet three criteria: (1) they cause widespread illness and death in developing countries; (2) they represent the greatest inequities in health between developed and developing countries; and (3) they receive inadequate attention and funding. "

There is plenty of money already in Cancer research, their foundation is focused on supporting research into illnesses that have high fatality rates. Cancer isn't as wide spread in developing nations, you could almost blame it on today's technology and the slow roast we're putting our bodies through with all the broadcasted waves.