Bono at Davos: ‘Capitalism is Not Immoral — It’s Amoral’

U2 frontman Bono at least partly defended capitalism at the 2019 World Economic Forum meeting in Davos, Switzerland.

His remarks came just days after outspoken Rep. Alexandria Ocasio-Cortez, D-N.Y. attacked the “system” and ranted against the coexistence of billionaires and poverty.

In contrast to her Democratic-socialist views that such coexistence isn’t a moral result, the liberal Bono credited capitalism with bringing many people out of poverty — but still claimed capitalism “requires our instruction” and called it a “wild beast.”

“We have to just ask ourselves deeper questions about where we are with the project called capitalism. Capitalism is not immoral — it’s amoral. It requires our instruction,” said Bono. “Capitalism has taken more people out of poverty than any other ‘ism’. But it is a wild beast that, if not tamed, can chew up a lot of people along the way.”

He added that, “In fact, those people’s lives it has chewed up are pushing the politics in our homes towards populism.”

Bono, who is known for his activism and his music, was part of a World Economic Forum panel about funding efforts to eradicate global poverty, according to The Irish Times. He is co-founder of the anti-poverty advocacy group One campaign.

Although very liberal, Bono’s work in Africa led to a close, friendly relationship with former President George W. Bush. In 2011, Bono credited Bush with saving five million lives in Africa over eight years helping supply treatment to AIDS patients. In 2018, Bono also told Rolling Stone “I’ve grown very fond” of Bush.

Economy World Economic Forum Bono
Julia A. Seymour's picture

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