“Doing charity is intrinsically difficult. Steve Jobs once said that he is not deeply engaged in philanthropy because there is no measurement system—-It is very hard to measure whether you have succeeded or not. But, according to the Bain and India philanthropy report, 80% of the individuals and 90% of the NGOs are satisfied with the efficacy of their philanthropic activities. Many economists think that this is because people often donate for the “feel-good” factor, and prefer to believe that their money goes into the right causes. “
“And, charity will never be sufficient. Economist Jagdish Bhagwati once said that an outright redistribution of wealth would only increase the food consumption of the poor by one chapatti a day. Some economists have estimated that sharing the total wealth in developing countries would leave its citizens with a few dollars a day. It is clear that charity will not solve the problem of world poverty.”
Do read the whole article in the Business Standard: Do Indian businessmen have cash registers for hearts?