Posted on January 28, 2008

Bill Gates Calls for 'Creative Capitalism'

Speaking at the World Economic Forum in Davos, Switzerland, last week, Bill Gates offered his vision of a new kind of capitalism that would benefit both the poor and the rich, the Associated Press reports.

The famously competitive Microsoft co-founder called on business to work with governments and nonprofits to stem poverty and spur technological innovation. Gates, who plans to relinquish his daily duties at Microsoft this year to focus on philanthropic work through the Bill & Melinda Gates Foundation, outlined how business could expand the reach of market forces to offer the benefits of science and technology to all.

Illustrating his commitment to social responsibility, Gates announced that Microsoft has teamed with Dell to sell a PC through the (RED) brand, which donates part of its revenue to the Global Fund to Fight AIDS, Tuberculosis and Malaria. (RED)-branded products have generated $50 million for the fund in the past year and a half, Gates said.

"We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well," said Gates. "This is how I see the world, and it should make one thing clear: I am an optimist. But I am an impatient optimist. The world is getting better, but it's not getting better fast enough, and it's not getting better for everyone."