Well, jobs are a great thing. You have to be a bit careful: If you raise the minimum wage, youโre encouraging labor substitution and youโre going to go buy machines and automate things - or cause jobs to appear outside of that jurisdiction. And so within certain limits, you know, it does cause job destruction. If you really start pushing it, then youโre just making a huge trade-off.
Bill GatesI have been struck again and again by how important measurement is to improving the human condition.
Bill GatesCapitalism has shortfalls. It doesn't necessarily take care of the poor, and it underfunds innovation, so we have to offset that.
Bill GatesAs I see it, there are two great forces of human nature: self-interest, and caring for others. Capitalism harnesses self-interest in a helpful and sustainable way, but only on behalf of those who can pay. Government aid and philanthropy channel our caring for those who can't pay. But to provide rapid improvement for the poor we need a system that draws in innovators and businesses in a far better way than we do today.
Bill Gates