January 24, 2008
Sad
Microsoft Chairman Bill Gates is my favorite capitalist. I run with a UNIX crowd that exists to counter the evil Borg from Redmond, so I have to be careful what I say. But my life has been so positively impacted by Gates, I have to admire him.
I'm fond of asking my lefty friends who did more good: Mother Theresa or Bill Gates? Gates left dozens -- probably hundreds -- of millionaires in his wake, enabled my career and now my ability to pursue part of it from home in spite of disability, and ultimately empowered me to blog and to record my own music. Remove the inexpensive OS from the world and it is considerably darker.
Sad to say, Mr. Gates will not participate in the unabashed celebration of capitalism I offer in his name. Too many glasses of Château l'Fete with Mr. Buffet?
There's a gem of truth in there. Capitalism is certainly the best method for helping people. But I am saddened that he sees doing good and doing well as different enterprises. He doesn't hold the Friedmanite belief that a Corporation should maximize its asset value. Gates clearly wants some corporate resources devoted to fuzzy concerns.
But these will be immeasurable and unaccountable -- subject to none of the forces that made Microsoft and its impact. We need to turn to the words of Nancy Reagan: "Kinder and Gentler than Whom?"
UPDATE: His guest editorial in the WSJ is better.
UPDATE II: Don Luskin: "Translation: the old form of capitalism was fine for me, making me the richest man in the world. Now that I've got that position, though, let's change the rules for everyone else."
UPDATE III: Larry Kudlow wonders about the differences between free market countries and Venezuela:
It appears Gates is ignoring the global spread of free-market capitalism that has successfully lifted hundreds of millions of people up from poverty and into the middle class over the last decade or so. Think China. Think India. Think Eastern Europe (and maybe even France under Sarkozy). Gates wants business leaders to dedicate more time to fighting poverty. But the reality is that economic freedom is the best path to prosperity. Period.Philosophy Posted by jk at January 24, 2008 3:13 PM
Francisco d'Anconia, call your office...
Capitalism hasn't "failed many of the world's poor" - authoritarianism has!
Just what are "the needs of the poor?"
Progress of the third [of the world's population] that's best off is quite satisfactory. What's unsatisfactory is for the bottom third to lag behind. But what about the middle third? Shouldn't we all be forced to give them some of our stuff too?
Bill Gates Jr. gets more like his looney father every day. I blame his wife.
Posted by: johngalt at January 24, 2008 3:47 PMI'd rather continue blaming Buffet. "Bill, I don't want you hanging around with that Berkshire-Hathaway guy any more!"
You nailed it, brother jg. The failure is that people have not been given sufficient access to capitalism, not that a "kinder" capitalism is required.
Posted by: jk at January 24, 2008 4:22 PMJK the number of millionaires created by Gates is definitely hundreds and more likely thousands. I even dated a few when I lived nearby. Resistance is futile. You will be assimilated.
Posted by: dagny at January 25, 2008 12:52 AMNo doubt you're right on the magnitude, Dagny. I'm fascinated that you dated them and then married jg... (He knows I jest)
Posted by: jk at January 25, 2008 11:41 AM | What do you think? [4]