Idaho's Weekly Journal of Local & National Commentary Week 2815


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by Free Market Duck

Billionaires Warren Buffet and Bill Gates fall ill to socialist philosophy
(July 17, 2006)

Redmond, WA Billionaires Warren Buffet and Bill Gates have just come down with the philosophical illness that Ayn Rand called, "the sanction of the victims."  That's the condition in which successful individuals, having no idea of the causal relationship between the philosophy of individual rights and free market capitalism, apologize for being successful businessmen in America, and then commit financial suicide through self-sacrificial actions such as breaking up their capital and donating it to the "poor" or another collective group.

   The problem is not donating to the poor per se.  The problem is the philosophical reasons that Buffet and Gates have given for donating to the poor.  If one truly wants to help the poor, sick, and downtrodden masses, the best possible method is to obtain a huge glob of capital and put it to work to produce time and labor saving inventions, whether in the field of medicine or computers or agriculture or any other field.  That's why we have stock markets and new companies issue stock, in order to amass enough capital to get the job done.  The worst possible economic method to try to help the poor and sick is to donate all of one's capital and split it up among the sick and poor as charity.  The sick and poor will each spend their measly portion in five seconds flat and then end up right back in the same poor and sick condition they were in to begin with.

   If Bill and Melinda Gates (and Warren Buffet) really want to help solve the AIDS epidemic in Africa, they should use their billions of dollars of capital to model a medical research company much like their computer company, Microsoft, and work to discover a cure.  And they should do it for a selfish profit to ensure they continue to generate more capital.  Otherwise, they will simply fall into the same bankrupt socialist paradigms as all the other welfare statists who continually fail at trying to solve world hunger, world diseases, and world everything elses through "charity" or fiat monetary schemes such as the World Bank.

   This non-understanding that the philosophy of individualism and non-infringing mutual self-interest is a virtue, not a vice, underlying basic free market economics and that capital accumulation is good, not bad, is what socialists and all collectivist politicians depend upon to convince businessmen, inventors, and scientists to accept guilt for being successful AS INDIVIDUALS.  Successful Hollywood actors and actresses have already fallen into this philosophical mind trap.  So have most American businessmen as you see them grovel in guilt and continually apologize to the U.S. Congress for existing.  "Oh, I'm so sorry for making a profit; please don't beat me, senator."

   All the socialists have to do to obtain power is to convince the people that the highest moral goal for the individual is to commit self-sacrifice for the collective state or, in the old days, the collectivist church.  Once Big Brother has obtained "the sanction of the victim," the individual believing that he/she is guilty for existing and living for his/her own self-interests, the state-collectivist politicians win.

   Donating to charity because you can afford to is not bad per se; it depends on your reasons.  Splitting up all of your accumulated capital because you feel guilty and because you don't believe, as Warren Buffet mislabeled it, "in dynastic wealth," (which means inheritance defined as individual rights of the giver) and that "it flies in the face of really what this country is about," is the wrong reason.  Accumulating capital and putting it to work for mutual selfish profits based upon individual rights and free market philosophy is exactly what America is all about.  A million AIDS victims don't need "free" welfare crutches after the fact; they need one capitalist vaccine with no guilt attached. -- FM Duck

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