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Tipsheet

Bono: Capitalism is Actually Pretty Great

AP Photo/Michel Euler

As capitalism continues to come under attack from socialist politicians in the United States and around the world, rock star Bono is reminding the globe that the free-market based economic system has freed hundreds-of-millions from poverty.

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“Capitalism is not immoral — it’s amoral. It requires our instruction. Capitalism has taken more people out of poverty than any other ‘ism,’" he said at the World Economic Forum in Davos, Switzerland this week.

While he praised the system, he also cautioned about it needing to be managed. 

"It is a wild beast that, if not tamed, can chew up a lot of people along the way,” he said. 

Bono's words are a far cry from what we've heard about capitalism from socialists like Senators Bernie Sanders, Elizabeth Warren and a number of freshman Democratic House members. He's worked for years on initiatives to fight poverty in places like Africa and believes America has served as an example of how to do the right thing.

Here are a few videos from PragerU on the topic: 

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