July 14th 2018 – By: William Larsen – Civilians News – “News For All Views” – Is Charity Hurting The Economy? –
Is Charity Hurting The Economy?
*And specifically…. what is, “social responsibility?”
I find that most Americans choose 1 of 2 philosophies concerning money and personal finance, in America today.
On one hand, I think that most Americans adopt the following mindset…… “I have a personal relationship with my finances and what is mine, is mine alone. Under this pretense; all investments, funds, incomes and finances, are solely an individual conquest combined with a personal belief system.”
In God We Trust.
I tie that philosophy into religion because I find that MOST AMERICANS adopt this philosophy and tend to believe that their bank accounts… essentially represent their religious beliefs (or lack thereof), quite literally…….
To be clear, I find that most Americans adopt this philosophy and tend to believe that their way of life, tied to a religious outlook and individuality, is somehow reflected in their personal finances. More specifically, I find that people who adopt this philosophy, regarding money, also typically believe that other people who develop similar spirituality… are going to come about money, as well. For this reason, I also believe that these types of people… often don’t believe in social responsibility, nor charity, under the premise that these things actually HURT the economy, as well as the individual.
And then there’s another way of looking at it… through an entirely different lens.
On the other hand, I perceive finance in terms of the daily; food, electric, and education, bestowed upon wealthy elites and the middle class alike… and for those reasons, I believe that we all have a certain, “social responsibility,” to acknowledge the economy as a whole. Also, I find that this is particularly true for those who make in excess of 10’s and 100’s of millions of dollars, in today’s day and age.
Furthermore, along that line of thinking charity is not charity at all. In this mindset… charity then becomes a, “social responsibility,” that the wealthy have to the poor, in terms of hiring and maintaining a fair amount of workers but also in spreading some wealth to the lower class. Under this premise, I believe that everyone, both rich and poor… has an innate responsibility to think of the economy in terms of, “social responsibility.”
Nevertheless, these 2 philosophies are very different… and even contradict… while running a business today.
Regardless, I work at Rockefeller Plaza, in NYC and I can’t emphasize enough just how much these 2 philosophies impact people’s daily lives. Furthermore, objectively speaking, it is somewhat fair to believe in either philosophy and those who adopt the foremost philosophy, tend to be more successful.
This is particularly true because in today’s, “internet age,” hiring large numbers of employees is often times un-necessary. As the owner of an Artificial Intelligence startup myself, (*www.ArtificialIntelligenceProject.com), I can attest that from my personal experiences I could run a fairly large tech firm… with very little human resources. In fact, I would estimate that a really good tech guru… could run a major tech company, like my Artificial Intelligence startup, with 5 – 25 really good employees.
So what should a business do? Drive profits? Or help their fellow man? Which is scary to me because we’re living in an era of automation where most companies don’t need as many employees, as before. Furthermore, in today’s economy the US government tends to reward people who take a benevolent approach towards social responsibility, particularly in terms of job creation and pay structures/wealth distribution.
In other words… I believe that our society is currently rewarding out-dated business practices through somewhat benevolent pay structures, depending upon the philosophy of individual business owners, who are operating under 2 different economic pretenses. Also, this is troubling to me because recent marijuana and gambling legislation is creating further leverage for the afore-mentioned business owners, who tend to be elitists.
So which is it?
Which economic philosophy ought a person to adopt… in 2018, especially in terms of, “personal finance,” and building a private enterprise? Should we shun charity and view money as strictly an individual endeavor? And what if that means hiring only 25 employees, at a billion dollar tech firm?
Or should we bite the bullet and help those in need? What if that means helping those who don’t always help themselves? Should we view money as a spiritual conquest or as a civilization, as a whole? Because we’re currently rewarding the less charitable philosophy and quite honestly… I can’t stand the ambiguity.
Which then leads me to the topic of today’s article… “charity.”
GoFundMe, the for profit, charitable donations website, is currently valued at 600m dollars…… with a business model focused on collecting .30 cents per charitable donation.
What type of business is that? And which approach to business should we take? Should we side with, “social responsibility,” and hire more workers? Or focus solely on profits and let the government do the rest? Because if there was 1 change that I’d like to see, it would be to have this very conversation… and this is a conversation which I find acutely important when everyone seems to be an; IG model, rapper, or self help coach. Which is to say, are those things charity? What is charity? And what do we specifically reward, in today’s day and age? So, in conclusion, with heated debates concerning welfare reform on the horizon, maybe now is a good time for all of us to talk about how we reward socially relevant, business practices….
-William Larsen, Civilians News