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Friday, January 25, 2008

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.

Comments

I don’t favour sweatshops but I do like the idea of microcredit.What little I’ve read on the subject suggests that it does much good and is truer to the spirit of the capitalist dream IMO. I’d also add that helping the developing and underdeveloped world get on the right track makes sense from both economic and moral standpoints and because most efforts have failed due to stupid models and policies doesn’t mean we shouldn’t keep trying. It just means we should encourage the use of programs that work.

Easier said than done I acknowledge.


No passion so effectually robs the mind of all its powers of acting and reasoning as fear
*Edmund Burke*

MikeAdamson on January 25, 2008 at 09:30 am
Avatar for Dex

MS Sweatshops? Dude, call tech support sometime.
But I don’t think he’s saying what you think he’s saying. I’d have to read the Davos speech to be sure, but it sounds to me like he thinks businesses should find a way to make a profit dealing with the “bottom billion”. It’s easy to give the former richest man in the world a hard time, but I’m not having a problem with corporations making a buck and saving lives at the same time.

Dex on January 25, 2008 at 09:55 am

Easier said than done I acknowledge.

Mike, it is easy.

I’m in, you?


“If a conservative is still a republican after the last 13 years, he is blind to the fact that his party of choice has failed him utterly.” – Realitybasedbob

realitybasedbob on January 25, 2008 at 10:10 am

I think it’s a start and it’s something a little guy like me can do so you can count me in.


No passion so effectually robs the mind of all its powers of acting and reasoning as fear
*Edmund Burke*

MikeAdamson on January 25, 2008 at 11:16 am

You want to tackle the world’s poverty? Then tackle its corrupt governments.

All in for that?

Oh yeah,...those dictators in Africa are “sovereign”, so we’re right back where we started.

Whatever. Things will never get solved because people won’t do what is necessary to solve them. Freedom is pissed on by the same people who call for us to give money.

likwidshoe on January 25, 2008 at 11:23 am

I don’t begrudge Gates’ billions. He made his money through hard work and innovation. But when people of his stature and wealth spends thousands of dollars on trash cans and shower curtains, then become…

impatient with the shortcomings of capitalism

... it just makes me queezy.


“To love is not to stare steadfast at one another...it is to look forward, in the same direction.”
Saint-Exupéry

laydownSally on January 25, 2008 at 12:21 pm

Microsoft and most major software companies have had sweat shops in 3rd world countries for decades as have many other types of companies. If you want to start a business that involves engineering or software, the cheapest way to do it is to have the work done in sweat shops off shore. The guys who arrange this are all over companies at any major technology show. What makes the sweat shops cheap is that they exist in countries that have corrupt governments and don’t really have free enterprise no matter what they say. The workers are paid just enough to get by on with the bulk of the money going to the rich and government officials. The money is not put into the country’s economy and the workers’ lives are not made better. Capitalism only works in countries where human rights are protected.

ews48 on January 25, 2008 at 01:28 pm

The workers are paid just enough to get by on with the bulk of the money going to the rich and government officials.

The truth is that the wages in the so-called “sweat shops” are higher than the going wages in those countries; the problem is with the corrupt socialist govts, not the businesses.  It’s a way to get capital into the poorer countries; Japan is a great example.


If you don’t know by now, don’t mess with it.

robert108 on January 25, 2008 at 01:33 pm

"Capitalism only works in countries where human rights are protected.”

So, why are you against destroying socialism? Human rights are trampled by socialists far more than capitalists. Happy workers produce more. Abusing workers human rights makes them unhappy. Socialists abuse human rights.

As for sweat shops, your big solution is for them to have no jobs? Just stand in line to get their UN sanctioned 1/4 kilo rice, 1/2 liter water rations every 4 days. Yea, that will create a Utopian paradise.

Long story short, Gates was perfectly fine with abusing anyone he had to in order to build his fortune. Just ask Jobs.


Una Salus Victus Nullam Sperare Salutem

2Hotel9 on January 25, 2008 at 02:13 pm

“Capitalism only works in countries where human rights are protected.”

Precisely backwards. Human rights only come about when capitalism - itself a fundamental human right - is practiced.

Ken McCracken on January 25, 2008 at 02:23 pm
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