Bono Praises Capitalism and Entrepreneurship as Key to Helping Africa
Bono announced that he thinks capitalism and entrepreneurship are vital to the fight against poverty in Africa during a recent speech at Georgetown University.
The singer and lyricist of the rock band U2 is the cofounder of the campaigning organization ONE, which aims to combat disease and poverty in Africa, according to Forbes.com.
Bono said that his praise of capitalism instead of aid for long term solutions even surprised him, according to the Inquisitr.
In a speech he gave in Dublin in October, Bono said he “got into this as a righteous anger activist with all the cliches.”
“Aid is just a stop-gap,” Bono said at Georgetown. “Commerce [and] entrepreneurial capitalism takes more people out of poverty than aid.”
Bono said he thinks aid is not a lasting fix to Africa’s problems, though it can act as a bridge to other solutions.
“In dealing with poverty here and around the world, welfare and foreign aid are a Band-Aid. Free enterprise is a cure,” he said. “Entrepreneurship is the most sure way of development.”
Bono has tried to reach out to both Democratic and Republican U.S. legislators to work with him and ONE to fight AIDS and poverty in Africa.