Trade Off Between Charity and Employment

Two years ago I posted about how wages are a great signal of where you can do the most good. The more you produce, the more you get paid, the better off society is. Apparently, the richest man in the world agrees:

Billionaire Carlos Slim, the richest man in the world according to Forbes magazine, said he’d rather spend money on projects that create jobs than give away his cash as part of a fight against poverty.

“The only way to fight poverty is with employment,” Slim said at a conference in Sydney today. “Trillions of dollars have been given to charity in the last 50 years, and they don’t solve anything.”

I'm certainly not against all charity, but I continue to feel the cost of it, especially in the hands of entrepreneurs famous for creating wealth.