U2’s Bono: Capitalism is only way to end poverty

Photo Credit www.georgetown.edu

U2 frontman Bono proves that in the end, intelligence and common sense wins out.

In a 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, according to The Inquisitr.

“Wow; sometimes I hear myself and I just can’t believe it,” he said.

Bono is well known for his activism against poverty and disease on the African continent, having lobbied American congressmen, presidents and leaders from other developed nations to get more involved.

He reached out to President George W. Bush, who launched the President’s Emergency Plan For AIDS Relief, a commitment of $15 billion to fight the AIDS pandemic — an effort that saved millions of lives.

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.”

While Bono may not be joining the tea party anytime soon, if the humanitarian could bring more liberal activists around to this way of thinking, he would have even more effect on poverty and debt than the miraculous impact he has had fighting AIDS.


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