Bill Gates Would Like To Revise Capitalism
Of course, he’d like to revise it starting now. After he’s already made his billions.
According to the front-page of today’s Wall Street Journal, Bill Gates is issuing a clarion call for a kinder capitalism to aid the world’s poor. Mr. Gates says he’s grown impatient with the shortcomings of capitalism. He thinks it’s failing much of the world, and he’s slated to say as much in a speech later today at the World Economic Forum in Davos, Switzerland.
This from a guy worth around $35 billion. (Give or take a billion.)
What’s frustrating is that Gates is making these comments in face of stark reality from Africa in the form of billions upon billions of dollars of international aid solving nothing, and in many cases actually making things worse.
It’s worth noting that nobody was ever lifted from poverty just because they were given some money. Being successful takes more than the simple possession of wealth. People must also be able to generate more wealth for themselves and those around them, and that means capitalism.
As surprising as it sounds, the “sweat shops” in Asia that unions and protectionists are always carping about probably do more good for the people that work in them than all the international aid that’s ever been sent there. Sure we the affluent denizens of wealthy western societies may turn up our noses at those “sweat shop” jobs, but for the people who actually work them it’s a big step up from where they were before. Like maybe subsistence farming in the form of trying to scratch a living out of the soil with grandpa’s femur.
If Gates really wants to help the world’s poor, he should set up some Microsoft sweatshops.












