‘Capitalism Has Taken More People Out of Poverty Than Any Other ‘Ism,’ Says Bono
U2 frontman shared surprising comments while discussing philanthropy with global business leaders
U2 frontman Bono has mixed feelings about capitalism.
While speaking to global business leaders at the World Economic Forum in Davos, Switzerland, the musician called capitalism “amoral” and said the system can help end poverty.
“Capitalism is not immoral — it’s amoral. It requires our instruction,” he said, according to The Irish Times. “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 event Bono spoke at was meant to fill a multi-trillion-dollar gap to help the U.N. with its goal of ending poverty by the year 2030.
Aside from his music career, Bono is known for his philanthropy.
He cofounded One, an organization that works to end extreme poverty around the world. The group sports more than 10 million members.
Though typically considered a political liberal — he dined with the Obamas in 2017 — Bono has worked on both sides of the aisle.
He said last year that he has grown “very fond” of former President George W. Bush and he praised the former commander-in-chief for helping him to combat the spread of AIDS in places like Africa.
Bono has had mixed feelings about President Donald Trump over the years. He said in 2017 he understood why people voted for the chief executive and that he respected many of those voters — but he did not think Trump was the answer to America’s problems.
“Everything is different now, it really is. The game has changed. I have so much respect for a lot of people who voted President Trump into office. I really understand, I really understand their anger — I have some of that anger myself coming from where we came from,” the musician said.
He continued, “I understand people being disillusioned with the political process and they think that the body politic is sick and whatever, but I don’t think the president, if you’ll allow me to say this — I don’t think he’s the cure for this problem and I think he might even make it worse.”
Bono has also criticized the president’s interest in slashing the federal budget.
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