You want both.
You want to link from your site to useful sites. Google hates dead ends so give it somewhere to go after your site. If you look at big important sites - sites google likes - you'll see they always have links to other sites simply by the way the content works. Don't link to dodgy sites (bad neighbourhoods and porn), keep the links relevant and google will thank you.
You also want links to your site. Don't worry about spamming - people (sometimes) get away with buying 10,000 links in the matter of a month! If you're getting the links by hand (by adding it to your linkedin profile, by adding it on stumbleupon, directories etc) you're don't need to worry about google throwing a hissy fit.
You want to link from your site to useful sites. Google hates dead ends so give it somewhere to go after your site. If you look at big important sites - sites google likes - you'll see they always have links to other sites simply by the way the content works. Don't link to dodgy sites (bad neighbourhoods and porn), keep the links relevant and google will thank you.
You also want links to your site. Don't worry about spamming - people (sometimes) get away with buying 10,000 links in the matter of a month! If you're getting the links by hand (by adding it to your linkedin profile, by adding it on stumbleupon, directories etc) you're don't need to worry about google throwing a hissy fit.

