Bono says ‘amoral’ capitalism needs taming
The U2 frontman was speaking at the World Economic Forum in Davos, Switzerland.
U2 frontman Bono, who has been a prominent campaigner on development issues for decades, has said capitalism is not immoral, “it’s amoral”.
Speaking at the World Economic Forum in Davos, Switzerland, Bono said capitalism has taken more people out of poverty than “any other ism” but that “it is a wild beast and if not tamed it can chew up a lot of people on the way”.
Those who have not benefited from capitalism are, he said, driving “the politics in our home towards populism”.
Bono also said he has had a change of heart with regard to the International Monetary Fund (IMF), an institution he once considered to be the “Great Satan” for its “bullying of junior economies”.
Bono ends the session with the thought: "Our children are not held hostage to ideology, they look to business or political leaders and they have a question on their hands: Are you a firefighter or an arsonist? And we have to ask ourselves which one we are." #wef19— World Economic Forum (@Davos) January 23, 2019
Heaping praise on IMF managing director Christine Lagarde, Bono said the IMF has changed.
The development community, he said, values Ms Lagarde’s “tough-mindedness” but he added he would still be on her “case”.