A whole bunch about us you may have never wanted to know.

Tuesday, August 25, 2009

Answer to the economy ...

I read a fascinating article that basically says what would cure the economy (although it wasn't even discussing the economy). It was an article about the importance of giving. It is written by an economist who was doubtful for years about the data he collected, and even threw out a
bunch of it because it didn't make economical sense.

To quote the article:
"If we were to increase our private charitable donations by just 1 percent, which is about $2 billion a year, that would translate into a gross domestic product of about 39 billion new dollars. If I can take your $2 billion in charity and turn it into $39 billion, then suddenly charitable giving is not just a great investment for you. It’s also a patriotic act for our country because it translates into jobs, growth, opportunity, and tax revenues."

$2 billion into $39 billion?!?

The author also talks about how those who give are better off financially. He said many people say that if they had more they would give, but he shows data that proves that those who give end up having more, and therefore give more. It's an interesting article from BYU Magazine written by the president of the American Enterprise Institute. Here's the link if you're interested: http://magazine.byu.edu/?act=view&a=2441.