Thursday, January 24, 2019

Bono - Apologist for Capitalism

U2 frontman Bono has said that capitalism is “not immoral” while speaking at the World Economic Forum in Davos, saying it’s “taken more people out of poverty” than any other system.

“Capitalism is not immoral – it’s amoral. It requires our instruction,” Bono said, adding: “Capitalism has taken more people out of poverty than any other ‘ism’. But it is a wild beast that, if not tamed, can chew up a lot of people along the way.”

The musician said that unfettered capitalism has caused an international drive towards populism and that public-sector spending is more vulnerable than ever due to issues such as homelessness in European cities. 

“We have to have some humility about what we can achieve in  the private sector but if we can unlock it it’s amazing what you can pull off,” before issuing a warning: “If Africa fails, Europe cannot succeed.”

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