Quote:
Originally Posted by CaptainCrunch
Wouldn't giving away 10% of a nations GNP pretty much cripple your economy, and prevent you from doing any managible debt repayments.
I'm all for foreign help, but I think we have significant social and infrastructure problems right here at home that should take some priority.
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I am lost here. Could you direct me to the part where 10% of the GNP is being given away?
Remember that GNP is a measure of a country's productive capacity and not a measure of stored value. i.e. giving up 10% of GNP would require giving away 10% of the labour and capital of a nation without compensation.
2nd, if it is a reference to the ratio of the billionaires combined wealth being given away compared to the savings of a nation, that wealth isn't actually being given away or removed from the economy, but rather being re-purposed. There will be many economic benefits from the charitable activities undertaken by these philanthropists.
Also, this is not necessarily a completely new idea. The Carnegie Foundation (among many others) has been doing philanthropic work for many years. I think the precedent here is that they are stating this so far ahead of time and stipulating a ratio of their donations.
~bug