Harvard Professor Robert Barro had a piece in the Wall Street Journal this week. The gist was: Bill Gates did a lot more for humanity by founding Microsoft and getting rich than he will by spending his $90 billion fortune on philanthropic deeds. The implication was: He really shouldn't bother trying to help the poor; markets, capitalism and policies that promote them will take care of everything.

[Gates] suggested that with a personal fortune of about $90 billion (including what he has transferred to the foundation) it is time for him to give something back. I find this perspective hard to understand... He is kidding himself if he believes that the efforts of the Gates Foundation are likely to provide society anything like the past and future accomplishments of Microsoft.

Barro suggests Gates might do just as much good by sending a $300 check to every U.S. resident. Ugghh. What junk. It is true that the economic growth caused by capitalism beginning in about the 16th century has done a million times more to alleviate poverty and advance standards of living than all government, philanthropy and foreign aid programs combined. It is true that, barring catastrophe, markets will continue to do this for a long time. It is true that many efforts at philanthropy fail miserably. But this is no reason to hide ourselves in the counting house, count our blessings and trust inertia to take care of the surplus population. Even Barro would admit markets are not perfect. Markets fail. Markets come with bottomless holes and horrible booby traps.

His recommendations to foster policies that promote markets are wise. But they are not sufficient. There is horrible suffering in the world: AIDS, malaria, starvation and poverty. Shall those with the means to alleviate them stand by and watch? Should economic efficiency leave no room for the milk of human kindness? The beauty of capitalism is that it accomplishes aggregate good through selfish motives. So be it. But it does not abolish the duty for those of us in better circumstances to try to help people directly.