Capitalism Better Than Foreign Aid Says…Bono?

Bono-at-the-2010-Atlantic-006

Rock star activist and philanthropist Bono is saying that capitalism is a better long-term strategy for helping third-world countries than aid payments.

“Aid is just a stop-gap,” he said during a speech to Georgetown University last month. “Commerce [and] entrepreneurial capitalism takes more people out of poverty than aid.”

Via Values and Capitalism:

U2’s Bono Speaks at GU Global Social Enterprise Event from Values & Capitalism on Vimeo.

There is an assumption that the problem with third world countries is that they’ve been exploited by external forces. The real problem, though, is that they’ve been exploited by internal forces. Most of these places are ruled by corrupt governments which don’t protect property rights or individual rights and which allow rampant fraud and crime to be perpetrated by their cronies.

If these places were governed by those who protected individual and property rights, who allowed commerce to take place while acting to stop fraud and enforce contracts, the people set free to pursue their own self-interest in a free market would quickly lift themselves out of poverty.

As Milt Friedman said, “There has never in history been a system more effective for lifting people out of poverty than the free enterprise system.”

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • Hannitized, Proofs obsession

    Shocker!! Democrats are Capitalists, not Socialists. But here is what is not shocking: Conservatives are fucking idiots who lie about Democrats being Socialists.

    • http://sayanythingblog.com Rob

      Democrats are capitalists?

      Then why don’t they, you know, support capitalism?

      • Hannitized, Proofs obsession

        They do. Why don’t Republicans support capitalists?

        • http://sayanythingblog.com Rob

          If Democrats believed in capitailsm and free enterprise, then why do they support a health care law that creates 100% government control of the insurance markets?

          That’s not capitalism, pal.

          • $16179444

            Cat got your tongue Hanni Tard?

          • Hannitized, Proofs obsession

            I think the cat has your brain…..and it’s using it for a litter box.

          • noblindersonme

            If you republicans are so pure on capitalism PAL! then you guys should be dead set against social security, medicare etc! The defense budget should be farmed out to private contractors , it is kinda getting that way with only the very few (1%) ever serving in the military while the flag waving crowd stays fat and comfortably safe, and FEMA should be shut down and every citizen should be required to have their own insurance( how bout that Pal ? Minot should be on it’s own right , no insurance Minot homeowner? tough sh*t. Devils Lake -that half billion plus you got for your ongoing flood – moochers ! pay it back! The lake came up naturally you shouldn’t be living there! Farm subsidies , oil sweetheart deals , and on and on … all these anti capitalistic practices should be scuttled right Pal!?? even though many many many republicans clutch these government programs to their greedy breasts like a child coveting his lollipop!
            Port -you and fellow whiners have cannot pass the purity test you condemn others for not following.

          • noblindersonme

            Watch me get pounded here, republicans who eagerly accepted their farm subsidies and FEMA disaster funds will get no grief from port , but I will ,for merely pointing that out .

            btw my comment about the fat and cozy crowd being indifferent to the FACT that our country is still at war and since it hardly affects them as they sit comfortably at their keyboard bitching about everything , but mostly about how their ‘wallets’ , I would be remiss if I didn’t remind Port that last week two more North Dakotans died overseas , and apparently it was no big deal because in all his diatribes and news updates he found it not to be news worthy !!!! Yeah for the whole Bush years he and other ‘conservatives ‘ couldn’t frame this war in terms dire enough to brand the democrats as terrible Americans. Today in the Obama years the fighting and dying still goes on , but because it no longer fits into their anti democrat narrative, they seem to just ignore it!

            I havn’t forgot! I knew it would drag on like this , I knew the GOP would manage the war news like this, and most of us knew that that area of the world would trap us like it did the British and Soviets and others, like it did for nearly 500 years!

            I salute those who valiantly are serving , much to the indifference to the cozy flag wavers who sent them there, I am sad that the 30,000 who were wounded there will need a lifetime of care , and I am troubled by the needs that will become more and more apparent to the countless many who will cope with PTSD.
            Freedom ain’t free ! Guess it was according to this crowd!

          • Hannitized, Proofs obsession

            Democrats don’t and haven’t, you just believe your own conspiracy theories. But maybe you just don’t like the fact that every American should be able to get healthcare insurance?

        • toppr8

          Hannitized, you can’t really believe the posts you put up……..Socialism is what BO is promoting….pure, plain and simple…..

          • Hannitized, Proofs obsession

            Yeah, total….socialism. That’s why Obama saved the economy after Bush crashed it. If Socialism was the goal, he would have just let it finish itself off, but the Democrats saved our economy and the global market….and all you idiots can do is bitch about the economy not getting better fast enough.

          • http://sayanythingblog.com Rob

            The economy crashed because of socialism. Remember Bush saying we have to destroy capitalism to save it?

            It wasn’t the free market that inspired bankers to make subprime loans.

          • Hannitized, Proofs obsession

            So the guy you voted for instituted socialism and crashed the economy? That’s what you’re going with?

          • Guest

            It never ceases to amaze me how conservatards rewrite history to conform to their meritless beliefs. Most of those bonds held a triple a credit rating. It was a poorly functioning market that made those loans attractive. If you think a multi-million dollar loan to someone making 20k/year is a tripple a investment, you’re an idiot.

          • http://sayanythingblog.com Rob

            Banks make money by lending money and charging interest. As a rule, they don’t loan money to people who have a low probability of paying it back.

            Unless, that is, the government provides incentives.

          • Hannitized, Proofs obsession

            It was the free market that inspired them to make bets on loan debt.

          • LenYol

            Saved the economy…Brahahahahaaa!!!!
            With an average of over 400,000 people losing their jobs every week, 44 million on food stamps and a 1/3 of the country on some kind of welfare…..just wait for the huge tax increases in a few weeks.
            You fucking prtoduct of mongoloids.

          • Hannitized, Proofs obsession

            Bush and then Obama executed the bail out of the major financial institutions subsequent the collapse of Lehman Brothers and the threat of the collapse of the entire financial system. If the destruction had been allowed to continue such that it eliminated the banks, all savings past the FDIC insured amount would have been lost. This would’ve meant the elimination of all large savings, and the printing necessary to provide the insured smaller savings would’ve been massive.

            As corporations would’ve lost their savings, and since without the
            financial institutions they would be without a source of credit, they
            would have no way to pay their bills besides selling inventory, and in the meantime they would have no way to provide salaries and wages. Owing to the massive automatic printing concurrent with desperation to sell concurrent with general panic, massive inflation or deflation would be likely, thus further destabilizing and destroying the economy.

            Hence, the bank bail outs saved the economy. Whether it was better to bail them out rather than nationalize them is a separate question, but action was necessary, and as both solutions proved repugnant to the more hardline conservatives, to the right of Bush, they would have destroyed the economy. At present, the hardliners have seized control of the GOP in both houses, hence their recklessness would’ve destroyed us.

            Hence, Obama saved the economy from a Great Depression, you child of racist squatters and stupid ideas.

          • LenYol

            obama has saved nothing. He’s directing the country down the crapper.

      • HG

        H believes in capitalism about as much as he does liberty. Unless you let him define it, of course. Then he and other liberals are liberty loving capitalists in spite of the redistribution, tax rates, regulations, market restrictions, bailouts, targeted stimulus spending, Obamacare, etc., etc..

        • http://sayanythingblog.com Rob

          They think the’re going to make us free by forcing us to do things the way they want us to do them.

          • HG

            They want to redefine capitalism the same way they redefine everything else — so that it sounds like America but looks like Europe.

          • noblindersome

            please Port , punch back with some thing sensible here , your bitterness is just pathetic . Try building your arguments on something other than one liner insults! Democrats are NOT against Capitalism!!!! and they don’t ‘ force you to do what they want you to do!” What a simplistic , infantile way to argue!

            of course that type of debate is common here because this is a haven for that type of thinking.
            btw there is example after example of Democrats in support of this capitalistic society , and there is example after example of republicans trying to force us to do things the way they want us to do them .
            but here that solves nothing , it only ends up in a cyber shouting match and the truth never prevails then , and THAT is just fine with you isn’t it!

          • Hannitized, Proofs obsession

            That’s been happening since the founding of this country. LOL.

        • Hannitized, Proofs obsession

          Between the two of us, I’m the only one that owned and sold a business, and I’m the only one who hasn’t taken a government check.

          You are as much of a capitalist as you are an atheist.

          • guest

            You owned a business that failed and found a sucker to ripoff.
            Your tax lien is proof of the way you do business.

          • Hannitized, Proofs obsession

            I sold the business after it reached it’s maximum profitability before taking on any more tax liability.

            You take a government check, not me.

          • Onslaught1066

            it reached it’s maximum profitability

            Two bottle caps, a penny slug, and a wad of dryer lint.

          • two_amber_lamps

            Hanny will see your two bottle caps, penny slug, and dryer lint wad and raise you a used condom + wrapper.

          • guest

            The condom was the one used by his boyfriend. He knows that hanni is an STD carrier.

          • two_amber_lamps

            I’d think at this point it hardly matters… they’ve been swapping fluids for so long the STD’s they both carry are quite well acquainted with each other.

          • guest

            It’s maximum profitability was failure. You found a sucker to ripoff. You being a tax cheat, tax liability means nothing to you. Your tax lien is proof of the way you do business, and your character. You’re scum, you come from scum, you’ll always be nothing but scum.
            Please link us to your source that proves I take a government check, when you can’t, just admit that you’re just a typical lying piece of sh*t.

          • http://proof-proofpositive.blogspot.com/ Proof

            Hanni trafficked in tropical fish. Sometimes scum would form in the tanks and his customers would have trouble distinguishing who the proprietor was.

          • HG

            And yet you still support Obamacare, redistribution, coroporate bailouts, targeted gov’t investment, etc. etc.
            That’s not capitalism.

          • Hannitized, Proofs obsession

            Working in the military isn’t capitalism either. Our capitalist market is capitalism, where I spend all of my time helping it advance. Our government has a role as well, and many people, conservatives included, benefit from government assistance. You’re welcome.

          • HG

            Like I said. You don’t know capitalism.

          • Hannitized, Proofs obsession

            I live capitalism, you fantasize about it.

          • HG

            You support central planning, not capitalism.

          • Hannitized, Proofs obsession

            I don’t “support central planning”, I just know the historical impact it had on the wealth of our nation. You are just too dishonest to admit we never had a true capitalist economy.

            I live capitalism, you take a government check.

          • HG

            What gov’t check are you talking about H?

            So you’re a capitalist who knows the historical impact of central planning and believe we don’t have a truly capitalist economy?

            Beside being horribly confused, it appears you don’t know what the hell you’re talking about.

          • Hannitized, Proofs obsession

            You collect a government check for your time working for the government, don’t you?

            America doesn’t practice true capitalism, every thinking person knows this. That of course leaves you out:

            Incidentally, the United States doesn’t actually practice capitalism. No one does these days.

            http://money.howstuffworks.com/capitalism.htm

          • HG

            Nope. Sure don’t. I volunteer my services. I’m heading there now, acutally.

          • Hannitized, Proofs obsession

            You have always been a fool and always will be a fool, HG.

            BeforĀ­e the Industrial Revolution in the 1800s, countries like Britain and the United States had true capitalist economies. With industrialization, though, came sweat shops, social protest and resulting government intervention in the form of fair labor laws. That’s when real capitalism ended.

            Today, the economies of nations that are typically referred to as capitalist are in fact mixed economies– they incorporate certain aspects of capitalism and certain aspects of planed economies. In pure capitalism, things like child labor laws, Social Security, anti-discriminatory hiring practices and a minimum wage have no place. Capitalism rejects all government intervention in economic matters.

            http://money.howstuffworks.com/capitalism1.htm

          • HG

            So you’re not a capitalist, or you are? Which is it?

          • HG

            You’ve proved yourself wrong. Congratulations.

            You said we “were never had a true capitalist economy”.
            Which is it, we did or we didn’t?

          • Hannitized, Proofs obsession

            So do you admit that we don’t have a capitalist economy, or not? This just proves that you don’t know what capitalism is.

          • Leonard

            You live the fantasy world of a self centered, self absorbed, narcissistic, know nothing tax cheat.

          • two_amber_lamps

            Being a “Public Charge” is not considered a business poor tranny-tard… nice try though.

            Oh by the way, you might want to change your boardies…. those p!$$ stains are kind of… ugly.

          • http://proof-proofpositive.blogspot.com/ Proof

            What business what that? Oh, yeah. You used to enslave small and helpless sea creatures for profit, taken from their home, leaving them to die in captivity, in small, glass prisons, trading on their misery. PETA must be so proud of you!

          • Hannitized, Proofs obsession

            Still seeking my attention, Blog Poodle?

          • http://proof-proofpositive.blogspot.com/ Proof

            Yep! That’s why I made your screen name part of mine so that I could look at it lovingly with every comment I make. Oh, wait! That’s you!

          • Hannitized, Proofs obsession

            Like it says; you are obsessed with me, so you have to interject and pollute a discussion where you aren’t involved. Deep down, you know it’s right.

          • http://proof-proofpositive.blogspot.com/ Proof

            I bow to your superior knowledge of how to pollute a discussion. (As I laugh at your pretentious delusions of adequacy.)

          • guest

            Just like clock work, Rob’s SAB addicted pet troll shows up. Everyone could set their watch by your need for an attention fix.

      • kevindf

        If they are, they are “crony capitalists.”

      • $16179444

        once again Hanni Tard goes home with his tail between his legs.

        • Hannitized, Proofs obsession

          LOL……you really are a clueless dolt. Sorry, kid, I’ve been busy.

    • toppr8

      Shocker……..Democrats think that if they see it in print it is true…….liberal media, guess what, chances are its full of bullshyte spin!

    • jl

      One Democrat speaks up, so suddenly you’re all capitalists? Funny math you’ve got there.

      • Hannitized, Proofs obsession

        Uh…yeah, I have been saying I am a bigger capitalist than most of you from the beginning. I’m the guy who ran his own business, never collected a government check, never took a government handout, never benefited from a government program…….and have lifted myself up with hard work. But….yeah….socialism and all.

        You idiot.

        • LenYol

          You never took a government check, but you sure did try to screw the government out of paying your “fair share”
          You’re just a low life, lying tax cheat.

          Document
          Number R2007203358

          Recording Date
          Recording Date:

          Date instrument recorded.
          YYYY-MM-DD

          2007-11-21

          Document Category:

          Judgment/Lien
          Conveyance
          Miscellaneous
          Mortgage
          Release
          Uniform
          Commercial Code

          Description

          NOTICE OF LIEN
          (INCLUDES COUNTY, FEDERAL & STATE TAX LIENS; MARITIME LIEN)

          Grantor Grantor:

          Party transferring
          interest.

          BONILLA WILLIAM
          L II

          Grantee Grantee:

          Party acquiring interest.

          HAWAII
          STATE-TAX

          • Hannitized, Proofs obsession

            All you are proving is I move a lot of money around and a piece of it fell through the cracks when I moved. My accountant didn’t catch it, but you sure are obsessed with me…..and you are still unemployed. No wonder you are so angry and bitter…..so jealous.

          • LenYol

            You’re a typical liberal piece of sh*t blaming someone else for your attempt to avoid paying your “fair share.” Geitner blamed TurboTax, you blame an accountant. You also blame the USPS for not knowing where to send your mail. Didn’t your accountant know where you were? Oh, that’s right, you deliberately didn’t leave a forwarding address. Typical lying tax cheat. A product of mongoloids.

          • Hannitized, Proofs obsession

            You’re just an unemployed racist squatter. You need the government to set rules for you that are shaped to your advantage. You’re a product of fat lazy squatters that huff on deer farts.

          • two_amber_lamps

            Racist Teapot… how’s that kettle doing? Do you still refer to black people as “darkies” or have you some other racist term to describe them?

    • brain trust

      I guess we can count on not seeing Bono at Dear Leader Kim Jung O’s 2nd inauguration. Capitalism runs counter to the economic philosophy of the current Democrat party. Much like the labor unions, they like to use socialistic economic policies to keep the populace in bondage to them.

      These 3rd world countries are poor because of their economic system. In socialism there is no incentive for people to succeed and so no effort is put forth. Unfortunately, that is the country that one political party envisions.

      • Hannitized, Proofs obsession

        I’m not sure I have the interest in debating this type of conspiracy theory idiocy. You can rest contently knowing you and your secret hand-shake group of morons have solved the secret.

        • http://proof-proofpositive.blogspot.com/ Proof

          Perhaps you’d rather talk about your own conspiracy theory again? The one where “Wall Street” conspires to sit on their money to “play games” and “make Obama look bad”? That of course would be founded on the mind numbingly idiotic notion that everyone on “Wall Street” was a conservative or Republican, more interested in political slights than personal profit, and that a massive conspiracy existed to dissuade them, en masse, not to invest in, what would otherwise supposedly be undervalued stocks, which would have potentially made them the most money?

          Of course it was childish and idiotic, and not at all thought out, which is why you repeated it so often…

          • Hannitized, Proofs obsession

            Um, that was Donny Baseball’s theory…….as well as BatOne’s. They believe that large companies are sitting on their wealth…in an effort to extort politicians to do their bidding. I think you have a previous comment of mine confused with another. You know, because you aren’t that bright and all.

          • http://proof-proofpositive.blogspot.com/ Proof

            Ah, Hanni! Still can’t own anything you say, can you? You posited that theory numerous times. I was just to busy to disassemble it at the time.

            And I believe you either misquote or misunderstand DB’s & B1’s theory (or both) as well. Wall Street was certainly “sitting on their money”, but not for some imaginary conspiracy of “hurting the president”, or “extorting politicians”, but because the uncertainty of Obozo’s tax policies and the unintended consequences of Obamacare were too great for them to put capital at risk.

            Big difference, Tiny Troll. Not that you’d notice…

            You may now return to your irrelevance.

          • Hannitized, Proofs obsession

            You’re misquoting me. That’s not what I said. But watching you defend DB and BO is hysterical. All you can do is lie, now that your groupies lost the election. All you have left is pointless banter and misquoting people to insult them. Yeah, that’s your life.

          • http://proof-proofpositive.blogspot.com/ Proof

            “watching you defend DB and BO is hysterical”

            If I ever start, we’ll watch and see, won’t we? I wasn’t “defending” them, since I hadn’t read what you purported that they said. Just knowing how functionally illiterate you are, and how you like to reshape the arguments of others (read: lie) to make them into something you can knock down, the odds were pretty good that I was right.

            If you have an exact quote or a link to back up your meaningless blather, I’ll take a look at it. But don’t bother on my account. No one here really gives a rat’s patoot what you think, and I am chief among them.

          • Hannitized, Proofs obsession

            Go read Donny B’s post, then gather around with your fellow right wing radicals and mourn the loss of another election and you can sit around patting yourselves on the back for ignoring people who are actually sane. By all means, continue….

          • http://proof-proofpositive.blogspot.com/ Proof

            “Go read Donny B’s post”

            Oh, so he only has one?? Or are you simply too frikkin’ stupid to actually copy a link that you think in any way, shape, or form proves your point?

            Do you think perhaps (think may be too strong a word) that because you pretend to read minds that I actually can? Sorry, Tiny Troll. You have nothing for me to read!

  • ObservingTheProcess

    Maybe some of the Obamatrons are seeing the light of day…………………………Na he is just saying this as a publicity stunt.

  • awfulorv

    China, becoming more leery each month of our ability to pay our debts, is coveting our infrastructure, businesses, and, if truth be told, our NFL cheer leaders. They are negotiating exchange of debt for our concrete edifices. Seems to me, had we sharpened our pencils during, and after, World War ll, we’d be due vast tracts acreage in France, Germany, Russia, Italy, etc. We , in a word, raped ourselves of oil, iron ore, and countless other valuables, to supply, and eventually win, the war and preserve for these counties their wealth and freedom. By any account they owe us, and have never paid anywhere near the wealth we expended on their behalf. Couldn’t some third degree legation member, before we were burned out, that is, have, at least, suggested that Kuwait, in gratitude for saving their smelly asses, sell their oil to us at a 20% discount for a specified number of years?The damn towel heads have even, artificially, inflated their black gold, a ransom the worlds oldest fourteen year old continues to pay, albeit with watered down monies.

    • awfulorv

      It may be added, for the hate America crowd, that the US is to Imperialism as drunken sailors are to savings accounts.

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