As I reflected on thoughts like this, I started to realize that the best way to help the poor and those in need is to allow liberty to flourish and to give people the ability to pursue happiness in the way they deem best. This in no way violates ideas of altruism or supplants the role of charity, but rather adds to and magnifies their effects.Any costs those who pursue wealth in the marketplace impose on others are swamped by the benefits they provide others by contributing to the general wealth. As a country's wealth goes up, infant mortality goes down; death from childbirth goes down; death and injuries at work go down; traffic deaths go down; life expectancy goes up; health at all ages improves; poverty, as measured by what people are consuming, goes down; leisure time goes up; educational opportunities go up; environmental quality goes up; and communication and travel improve; to mention but a few measures of human well-being that improve with wealth.
In noting the unintended benefits to others -- and to society at large -- that flow from the pursuit of one's own gain, Smith by no means overlooked private benevolence, where the giver has an active intent to help those in need. Individuals may expend their wealth on trinkets and baubles, but they can also use it intentionally to relieve distress and to help others improve their lives. In a well-known sermon on "The Use of Money," Smith's contemporary, John Wesley, exhorted his followers to "gain all you can" by honest means, to "save all you can," and to "give all you can." For most persons in 18th century Britain or America, giving "all you can" amounted only to pennies. Since that time, economic growth there has produced astonishing wealth and -- because of the moral admonitions of Smith, Wesley, and many others -- charitable or philanthropic giving has flourished.
Maybe it is in the nature of things for us to adapt to improvements in our lives, with the happiness they provide being temporary. But we would surely add to our happiness by spending more time appreciating how blessed we are compared to those of a few generations ago. A good way to begin is by considering how much the pursuit of wealth has added to the length, health, comfort, beauty, and meaning of our lives and the lives of those we love.
One of my favorite economists, Thomas Sowell, once said: "Wealth is the only thing that can cure poverty." When I read those words, my eyes nearly fell out of my head because it was so common-sensical and yet seemed to have escaped me my entire life.
I have always been convicted that it is right for people to love their neighbor as themselves and to look out for the interests of those less fortunate than you -- particularly when they are unable to do so themselves. It was an amazing discovery to me that in order to do this most successfully actually involved processes intimately connected to and explained by economics, wealth creation and freedom. This is a discovery that still excites me tremendously -- in part because I believe it is so poorly understood by many people who sincerely desire to do good for others.
My life goal is to contiue to learn as much as possible about this wonderful "invisible phenomenon" and to teach others about these ideas as well. My hope is that in spreading this understanding, it might in some small way help to make the world a better place.
P.S. -- You can view one of my first attempts at teaching these concepts here. It is a Power Point slide I used to teach seminary students during my trip to India in November 2003. The joy of this teaching experience is what helped launch me into the direction I am now heading.
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