This week, Bill Gates made a speech to the World Economic Forum in Davos, Switzerland, calling for what he describes as a ‘kinder capitalism’. The Wall Street Journal states that his newfound humanitarianism was born of the awareness that although capitalism has served many in the developing world, it leaves the poorest of the poor behind.
Gates sees capitalism’s worst failings in the areas of technology, health care and education. Billions are invested in each of these sectors, but only a tiny fraction of that investment reaches the two billion poorest members of the population.
His prescription? “We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well,” says Gates. He goes on to describe how businesses should task some of their best and brightest with creating products and services targeted at the poorest of the poor.