Gates and 'Creative Capitalism'

Talk about power players. Bill Gates this evening talked about "Creative Capitalism" in front of a full house here in Davos. Here is some of what he said. See what he said about his time with Bono. When he speaks, people listen. Some agree. Some disagree. The premise is that the rich, wealthy corporations need to give a helping hand to the poor. Také a look below. There's a reason why this man -- and just as importantly his wife Melinda -- have one of the best-known foundations in the world. The eight-year-old charity now has $70 billion dollars. Yes, $70 B as in Billion. Remember: Warren Buffett announced that he was leaving his fortune to the foundation valued at $31 billion in 2006.

Gates: We Need to Refine Capitalism

"We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well. The genius of capitalism lies in its ability to make self interest serve the wider interest. The potential of a big financial return for innovation unleashes a broad set of talented people in pursuit of many different discoveries. This system driven by self interest is responsible for the incredible innovations that have improved so many lives. But to harness this power so it benefits everyone we need to refine the system."

Gates, Bono and Creative Capitalism

"One of the most inventive forms of creative capitalism involves someone we all know well. A few years ago I was sitting at a bar here in Davos with Bono. Late at night after a few drinks he was on fire talking about how we could get a percentage of each purchase from civic-minded companies to help change the world. He kept calling people, waking them up, and handing me the phone to show me the interest. Well, it’s taken time to get this going but he was right. If you give people a chance to associate themselves with a cause they care about while buying a great product, they will."

Gates: I Challenge You To Help Poor

"I’d like to ask everyone here whether you’re in business, government, or the non-profit world, to take on a project of creative capitalism in the coming year and see where you can stretch the reach of market forces to help push things forward. Whether it’s foreign aid or charitable gifts or new products can you find a way to make the power of the market place helps the poor?"

Gates: Phenomenal Age Change World

"We’re living in a phenomenal age. If we can spend the early decades of the 21st century finding approaches that meet the needs of the poor in ways that generate profits and recognitions for business we will have found a sustainable way to reduce poverty in the world. The task is open-ended. It will never be finished, but a passionate effort to answer this challenge will help change the world. I’m excited to be part of it. Thank you. (Applause)"