Bono: 'Capitalism takes more people out of poverty than aid'

Georgetown University

Musician and activist Bono spoke to more than 700 Georgetown students and leaders in the corporate, nonprofit and political sectors on Nov. 12 at an event hosted by the Global Social Enterprise Initiative (GSEI) at Georgetown’s McDonough School of Business.



H/T The Beacon, Bono: “Capitalism takes more people out of poverty than aid”

…in a speech at Georgetown University, Bono altered his economic and political views and declared that only capitalism can end poverty.

“Aid is just a stopgap,” he said. “Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.”

Bono encouraged students to think of what they can do to support those in Africa and other developing nations that are in need of justice and comfort.

He compared the effort to how St. Ignatius of Loyola, the founder of the Society of Jesus, made his commitment to serve others.

“That’s what I’m hoping happens here at Georgetown with you,” he said…


RelatedRecent study confirms economy was destroyed by Democrat policies



Update:  via Instapundit: CAPITALISM VS. POVERTY: This chart shows what Bono is talking about.




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