Bono: Only Capitalism Can End Poverty

inquisitr ^ | Nov 12, 2012 | Video

[wrhssaxensemble]

You probably figure that like most prominent artists and entertainment celebrities, U2 frontman Bono would be a typical left-liberal.

But you’d be wrong.

The Values & Capitalism blog of the American Enterprise Institute observes that “For a rock star whose travels to developing nations and advocacy of foreign aid are well known, this focus on commerce has surprised many observers—and apparently the man himself.”

In a recent speech at Georgetown University’s Global Social Enterprise Event, Bono admitted that even he himself finds it hard to accept that he has become a rock star who preaches capitalism. “Wow; sometimes I hear myself and I just can’t believe it,” he said.

Bono is well known for leading charitable organizations and initiatives that are fighting poverty and disease in Africa. He also may or may not be the world’s wealthiest musician as a result of his investment in the Facebook IPO.

At the Georgetown speech, Bono made the following statements:

“Aid is just a stop-gap. Commerce [and] entrepreneurial capitalism takes more people out of poverty than aid.

“In dealing with poverty here and around the world, welfare and foreign aid are a Band-Aid. Free enterprise is a cure.

“Entrepreneurship is the most sure way of development.”

In a speech in Dublin in October, Bono express similar sentiments according to Forbes.

“Job creators and innovators are just the key, and aid is just a bridge … We see it as startup money, investment in new countries. A humbling thing was to learn the role of commerce.”

[Red Badger]

i'm shocked!!!

[dfwgator]

He’s right.

Dump food and doctors on place like Haiti, all it did was make it impossible for Haitians to farm and practice medicine for a living, allowing the cycle of dependence on aid continue in perpetuity.

[a fool in paradise]

Only a popstar could think that poverty could be eliminated.

[rktman]

When did mr. save the world change stripes? Is he living and paying taxes in Ireland? Asshat extrodinaire.

[Borges]

He’s always been fairly honest and consistent about this.

[a fool in paradise]

Still waiting for Mr. Bono to step forward and condemn confiscatory tax rates.

[alphadoggie]

Why all the negative if one of them has finally seen the light?

[x1stcav]

My sentiments exactly. He spent 30 years advocating sending 1st world wealth to a corrupt and god-forsaken third world and now he finally sees the light. He can go to hell.

[Puppage]

Is he living and paying taxes in Ireland?

You just HAD to go and ask a rhetorical question....didn't you?:-)

[pieceofthepuzzle]

“Only a popstar could think that poverty could be eliminated.”

I truly think ‘poverty’ can be eliminated. It really depends on what we call poverty. In the US you can have an annual household income well below the poverty level, and still have a much higher standard of living than much of the rest of the world. There will always be those who have more, and those who have less, but I do believe it is possible to get to the point that those with less are not impoverished.

That said, I think the most profound type of poverty is when a persons self-respect and ambition are gone. This is what happens when people lose faith in their ability to determine their own fate. Policies that do this are not helping.

[Lou L]

Bono admitted that even he himself finds it hard to accept that he has become a rock star who preaches capitalism. “Wow; sometimes I hear myself and I just can’t believe it,” he said.

A classic example of a young man maturing as an adult, and fulfilling the prophetic Churchill quote:

“If you're not a liberal at twenty you have no heart, if you're not a conservative at forty you have no brain.”

It's taken Bono a few more years, but this is a stunning achievement.

[bkaycee]

Not sure I want to condemn someone for discovering the obvious.

discovering the truth might take time, when surrounded libtards.

[dfwgator]

Guess they all can’t be Danny Elfman:

Capitalism - Oingo Boingo

There’s nothing wrong with capitalism
There’s nothing wrong with free enterprise
Don’t try to make me feel guilty
I’m so tired of hearing you cry

There’s nothing wrong with making some profit
If you ask, I’ll say it’s just fine
There’s nothing wrong with wanting to live nice
So tired of hearing you whine

About the revolution, bringing down the rich
When was the last time you dug a ditch, baby

If it ain’t one thing, then it’s the other
Any cause that crosses your path
Your heart bleeds for anyone’s brother
I’ve got to tell you, you’re a pain in the ass

You criticize with plenty of vigor
You rationalize everything that you do
With catchy phrases and heavy quotations
And everybody is crazy but you

You’re just a middle class, socialist brat
From a suburban family and you never really had to work
And now you tell me that we’ve got to get back
To the struggling masses, whoever they are

You talk, talk, talk about suffering and pain
Your mouth is bigger than your entire brain
What the hell do you know about suffering and pain?

There’s nothing wrong with capitalism
There’s nothing wrong with free enterprise
Don’t try to make me feel guilty
I’m so tired of hearing you cry

There’s nothing wrong with making some profit
If you ask I’ll say it’s just fine
There’s nothing wrong with wanting to live nice
So tired of hearing you whine

You’re just a middle class, socialist brat
From a suburban family and you never really had to work
And now you tell me that we’ve got to get back
To the struggling masses, whoever they are

You talk, talk, talk about suffering and pain
Your mouth is bigger than your entire brain

There’s nothing wrong with capitalism
There’s nothing wrong with capitalism
There’s nothing wrong with capitalism
There’s nothing wrong with capitalism

[Tired of Taxes]

Sometimes it takes a long time for people to see the light. I hope he carries this message far. Maybe more people on the Left for now will be willing to listen and understand if the message is coming from Bono.

[jcon40]

“”He spent 30 years advocating sending 1st world wealth to a corrupt and god-forsaken third world and now he finally sees the light. He can go to hell.””

If we are in a war of ideas - Let’s celebrate some of the victories
He may not be carrying the exact flag you or I would be he’s closer to our side than he was before

He also has more sway to gather converts than most of us here

[alloysteel]

The growth of plants (an oak tree, say) is Nature’s expression of capitalism in action. Starting from a seed (acorn) with its store of energy, and the program of growth in its vital center, the roots and the leaves sprout forth. The roots draw up the necessary moisture, moving the nutrients internally through all parts of the organic whole, and the leaves become the manufacturing facilities, taking the raw material of carbon dioxide, water vapor, and the energy input from the solar radiation that falls on the deserving and undeserving alike.

A wide array of products from this one source alone, as sugar, cellulose, and various other polysaccharides, combined with production subcontracted out to symbiotic microorganisms, which take other elements from the air and already coursing through the internal distribution system of the organic whole, to create nitrogenous compounds known as amino acids, the building blocks of protein. Other microorganisms convert part of the saccharides into fats and oils, a very compact energy storage medium, that has its own place in the entire operation and product generated in the growth cycle.

So, by taking raw materials, energy, and a program for growth, together with a symbiotic relationship with other organisms, the oak tree is the ultimate expression of capitalistic growth. There are, of course, any number of ways this growth can go wrong, as by germinating in an unfavorable place, or being uprooted and destroyed before becoming sufficiently large to maintain its place in the environment, or being harvested before its own maturity assures the future growth of descendants. The growing tree may be subjected to any number of limiting conditions, as it could end up being pruned back and forced to conform to some other guidance, never allowing the tree to reach anything like its true potential.

But a mature oak tree is a magnificent demonstration of the vitality of the whole capitalistic system that grew it to its stature.

[Mrs. Don-o]

Asshat? I think you're a little off.

First, Bono has been getting more and more outspoken about the importance of trade, and the limitations of aid, for years.

Second, why should he live and pay taxes in Ireland when he can pay less taxes elsewhere? He just SAID that taxpayer-financed aid is not the route to lasting improvement: commerce/ entrepreneurial capitalism is.

And you're not morally obliged to choose to live and pay taxes in the countries with the highest tax rates. There is nothing morally reprehensible about doing what you can legally do, to reduce your taxes.

Do you insist on paying more taxes than what is required from you by law?

[antidisestablishment]

Amen, brother! Conservatives are well-known for shooting their wounded, but shooting at unarmed refugees is another matter. I say we let him in the camp, and get him some medical attention from Dr. Ted.

While Bono has made a lot of blunders, he has been very determined to help over the long term, and he has been headed in this direction for a while. The difference between losers and winners is not the number or severity of their failures; it’s the ability to admit the failures and move on.

I don’t know what Bono’s done to all these folks here, but I hope they don’t face the same standard come Judgment Day.

[a fool in paradise]

He ducks out on taxes rather than speaking out against them.

Asshat? REALLY?
Knock off the namecalling.