Bono versus Bill Gates: A capitalist or a statist route to end poverty?

How to be Profitable and Moral: A Rational Egoist Approach to Business

“Aid is just a stop-gap. Commerce—entrepreneurial capitalism—takes more people out of poverty than aid.” You might be surprised that this statement was made by Bono, the front man of U2 and a former crusader for more foreign aid by governments of developed nations. (See Mark Hendrickson’s column about Bono’s conversion to embrace capitalism here). Bill Gates, the founder and former CEO of Microsoft and chairman of Melissa and Bill Gates Foundation, on the other hand, beseeches us to embrace statism as a means to end poverty. He wants governments of wealthy nations to allocate their tax payers’ money for foreign aid to developing countries and urges donors of foreign aid, both governmental and private, to work with Third World governments to find technical solutions—such as mosquito nets and drought-resistant corn—to help the poor. (See Bill Gates’ annual 2014 letter to his foundation here).

Who is right about…

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A view from "the Right", as a source of ideas to create a new vision of freedom and what it promises for Jamaicans, to counter the tyranny of the status quo of Jamaica's reality since 1962. Website: Email: Twitter : @rightfromyaad Facebook:
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