Carlos Slim, ranked the world’s richest man by Forbes, told the Wall Street Journal that the key to fixing poverty is employment, not charity:
“To give 50%, 40%, that does nothing,” Slim said. “There is a saying that we should leave a better country to our children. But it’s more important to leave better children to our country.”In a speech in Mexico City Thursday, he reiterated his point that the best way to fight poverty is to create jobs.
Now Mr. Slim isn’t un-charitable. He has contributed hundreds of millions of dollars to his foundation and has funded millions of dollars in joint-venture projects with the Bill and Melinda Gates Foundation.
There’s something to this: Many charities provide temporary relief, but no country’s widespread poverty has ever been solved by charity. It’s always been a new industry and an economic upturn that has helped. Too bad it’s more likely critics will dismiss him as a kooky self-interested billionaire.