THIS ROCK STAR HAS BEEN COMING AROUND IN SO MANY WAYS LATELY. Nice to see him taking a stand for capitalism here at Georgetown University rather than advocating just giving, giving and more giving of foreign aid stuff to poverty-stricken countries. It's called teaching a man to fish rather than giving him fish after fish. And the difference it makes is huge.
What encouraging news for the world at large.
This from Mark Perry's Carpe Diem blog:
In the past, rock star Bono has been a major supporter of greatly expanded U.S. foreign aid and other government programs (including debt cancellation) to fight poverty, HIV/AIDS, malaria and disease in places like Africa. In recent months, Bono has developed an appreciation of how markets and capitalism are powerful forces for poor countries like Africa, and more effective at lifting people out of poverty than government-to-government foreign aid. In a recent speech at Georgetown University, the rock star passionately preached the virtues of capitalism, see the video above and his key quote below (full speech available here). “Commerce is real. Foreign aid is just a stopgap. Commerce and entrepreneurial capitalism take more people out of poverty than foreign aid, of course we know that. We need Africa to become an economic powerhouse.”Nice going, Bono. Rock on.
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