Bono (U2) – “Capitalism lifts more people out of poverty than aid”
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A libertarian website reported
http://blog.independent.org/2013/08/12/bono-capitalism-takes-more-people-out-of-poverty-than-aid/
Quote:Our Research Fellow George Ayittey met the Irish rock star Bono in July 2007 during a TED conference. Professor Ayittey was speaking and in knowing that Bono would be in the audience, he explains that “I made a special effort to rip into the foreign aid establishment…. Later, Bono said he liked my speech but did not agree with me that foreign aid is not effective in ending poverty. So I gave him a copy of my book, Africa Unchained: The Blueprint for Development.”Bono (nee Paul David Hewson) is the lead singer in the rock group U2, one of the most successful rock groups in history. Bono also became a major proponent of greatly expanded U.S. foreign aid and other government programs (including debt cancellation) to alleviate the dire plight in the world of HIV/AIDS, malaria, abject poverty, and other issues.
Bono has further been Co-Founder and Managing Director with the venture capital firm, Elevation Partners, and he may well be the world’s wealthiest musician after his investment in the Facebook IPO, which made over $1.5 billion for the firm.
Bono is also a Christian (see here, here, and here). He is an admirer of the work of C.S. Lewis … Just recently drawing upon his Christian faith (and possibly the economics influence of Professor Ayittey?), in a speech at Georgetown University, Bono altered his economic and political views and declared that only capitalism can end poverty. “Aid is just a stopgap,” he said. “Commerce [and] entrepreneurial capitalism take more people out of poverty than aid. We need Africa to become an economic powerhouse.”
Our African blog, Socialist Banner got there first with the Georgetown speech http://socialistbanner.blogspot.com/2013/07/praise-be-plutocrats.html Other posts bout his hypocrisy can be found here http://socialistbanner.blogspot.com/search?q=bono
This does strike me as either off topic, non-serious or a joke. Couldn't it be transferred to the general discussion section?
I very nearly posted this in general discussion, I will leave that up to individual judgment. However, I've yet to meet anyone who holds Bono in high esteem, maybe members of the establishment do, maybe they're out of touch or want "rock music" credibility (put some orange glasses on), but I think most workers think Bono is a complete joke.The CWI Ireland review a book critical of Bono here;http://www.socialistparty.net/comment/1240-review-the-forntman-bono-in-the-name-of-power
We should challenge Bono to a debate, never mind Peter Tatchell. Needless to say he wouldn't be likely to accept the challenge anymore than Tatchell has so far…
jondwhite wrote:Bono and Tatchell are in different leagues politically.Not really; they both support capitalism…
jondwhite wrote:I hear Tatchell has a soft spot for the politics of William Morris.Not sure where you heard that but as Tatchell has seemingly contracted cold feet following our invitation to him to debate us at Conway Hall we'll probably never know for certain…As we found with Germaine Greer and Esther Rantzen before, he's discovered, or more likely been advised, that there's nothing in it for him. When it comes to the crunch none of these apologists for capitalism will put 'their money where their mouths are' when there's a risk of them being exposed for the mountebanks they are.
jondwhite wrote:That's LifeLife under capitalism don't you mean?
A good article on philanthropyhttp://truth-out.org/news/item/18279-how-billionaire-philanthropy-is-fueling-inequality-and-helping-to-destroy-the-country
Already lifted and re-edited for our SOYMB blog http://www.socialismoryourmoneyback.blogspot.com/2013/08/philanthrocapitalism.html
What the Irish Hate About Bono http://www.counterpunch.org/2013/08/23/what-the-irish-hate-about-bono/ In 2010, U2 Ltd paid €16,500 in corporate tax, while U2 the band two yearly returns showed they grossed $736,137,344. Take his company (RED) ‘a model of opacity’ – a company supposed to garner millions for the world’s poor by selling its conscience friendly branding to the world’s rich. In returns posted in 2009 (actual figures for all of Bono’s companies are notoriously difficult to come by) just $18 million reached its parent company the Global Fund, while a staggering $100 million went on advertising.
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