Bill Gates Discusses How To Fix Capitalism | TIME

hi I'm Rick Stengel I'm the editor of Time magazine and I am here with bill gates to talk about his story for time this week welcome bill thank you it's all about your big idea of creative capitalism I'd love you to tell our readers what what the heck creative capitalism is well capitalism has done a great job for the people who are well off but if we look at the disparity between the poorest and and the rest of the world that gap is growing and so the question is can we take some of the caring and innovation power of the resources of corporations and get them to focus more on of that on the needs of the poorest and it's very timely because whether it's breakthroughs in medicine or using cell phones and creative ways new forms of banking food with better nutrition there are clearly some things that these large companies with their great resources and their innovation power if we get them to apply that more significantly for those with the most need that we can reduce impoverishment far faster than simply relying on government alone you write about how this idea mixes two primal human impulses that the self-interest that we all have and the desire and willingness to be good and help others how does creative capitalism mesh those two impulses well there's a bit of a market failure in that if you're very poor your voice in the marketplace is very small and so you'll have a disease like a malaria or other diseases of poor countries where it's not going to make a pure profit driven prioritization in the same way that something like reducing baldness might because those consumers speak with a loud economic voice so how do we alleviate that part of it is a view that young people really do want to be involved with things that are helping the poorest that they want to associate themselves with a company is taking some of their innovation power and and prioritizing it for these needs now there are people like CK prolog who pointed out that as you look at the needs of these consumers you often come up with cost breakthroughs and you find a higher volume market and so you can sometimes go down this path with it being purely sort of philanthropic brand oriented just fulfilling the broad mission and see that it actually does fit in with the more traditional way of prioritizing things and that's fine with me I you know I I think you've got to explore the space and you'll find things that are our economic and things that are more reputationally driven let's talk about the latter let's talk about recognition because you write eloquently about how young people today are are looking to work for companies that they feel are socially responsible how does that how does that help them how does that even help their bottom line why do see this big change that young people in their life's work wanna feel like their company really is a positive agent for change if their company has a certain type of science that it's not just for the richest and I think that is a very positive instinct that we can draw on because companies compete to hire those people to have them enthusiastic about the work they do and so by taking each industry and having literally rankings that show which companies are being the most innovative and looking out for the needs of the poorest then we'll raise the level of activity as people look at how they're being viewed you're one of the great capitalists of the 20th century and in the piece you talked a little bit about the ways that capitalism has failed at the bottom of the market or in the third world in the developing world how how has capitalism not worked in terms of how people are feeling right now well capitalism over long periods of time has worked better than anyone expected and it's easy to lose sight of the fact of that because we look at individual companies fail and yet you know the overall total employment over the decades has gone up and up and up so I don't think there's many people who'd want to set the clock back and say okay I don't want the breakthrough medicines I don't want the empowerment of the internet or the cellphone or the great things that we have at all times you're always worried about imbalances but that's partly why the system works so well you know if there's a shortage of clean energy then the high IQ people who understand those areas are drawn in an energy is a great example where I'd say there's 20 times as many brilliant people thinking about energy breakthroughs today is there were 10 years ago so I love the energy space is a great example of capitalism Cina need drawing in big companies small companies funding research universities this is happening particularly in the US but it's more global today than it would have been in the past

  1. This is not what Sanders wants. He wants to destroy free markets. His ideas have all been tried , and everyone has failed. He talks about Socialism in Sweden, and it’s great success. Nothing could be further from the truth. Social programs there will built and sustained by Capitalism. In the 1970’s up to about 1990 when Social Democrats took over, the country was almost on the brink of economic collapse with massive tax hikes and regulation that destroyed businesses . Social Democrats were thrown out and social programs had to be scaled back to sustainable levels , and it is Capitalism now that once again sustains it.

  2. Sigh I hate to see generation support "socialism" my parents lived in a socialist country. It had great healthcare and job experience but at the expense of taking homes income and freedom of speech from people please dont let the united states follow this trend

  3. If you have a system that can help everyone but is rooted in the idea of profit gain, then you're not going to be seeing the poverty rate slow down. If Capitalism is present, then greed is going to determine how the world runs.

  4. if it could be done, it would have been done already. there's a reason why you can't fix Capitalism… it's a Giant Contradiction. it's Illogical when putting Profit over Life is its Foundation. 😥

  5. Capitalism and corporations' biggest flaw is greed. The greediest corporation would find a way to get the most money they possibly could, that means selling to as many people as possible. If a corporation doesn't provide a product or service that people want, they are forced to change.
    In a free market, the power is in the hands of the consumers. If it becomes popular for everyone to wear yellow hats, companies will begin to sell yellow hats. If a lot of companies sell yellow hats, businesses have to compete to make the best yellow hat.
    The rich get richer, but the poor do not get poorer.

  6. Gates thinks that it would be very creative to privatize the education system of the United States. What a joke! Stay out of public education, it is not for you, it is for all of us!

  7. I've read numerous posts here but I haven't seen a single one that mentioned worker cooperatives. Whole Foods, is or was,
    a worker co-op but I don't know if Amazon left it that way. Wood-Mizer one of the largest band saw sawmills companies in the world is owned by the workers. Cleveland, Ohio has one called Evergreen. In a capitalistic privately owned business there is no democracy. You are told what to do, do it, and go home. Your labor must produce for the owner enough to pay your salary with a leftover surplus. You have no say over what happens to or with the surplus. You agreed to work for what you were paid and that's that. In a coop everyone has a say, they're owners, as to what, where, why, when, and how the company is run. That's democratic. One more thing. A privately owned company will pack up and head for the country with the cheapest wages leaving hundreds and even thousands of people jobless. Employee owned companies don't do this. They stay, make adjustments, and keep their jobs. Look up the Mondragon cooperative in Mondragon Spain. It is worker owned, has over 250 businesses, 100,000 employees, and is the third largest company in Spain.

  8. Unlimited capitalism will collapse just like unlimited freedoms. Nothing can be unlimited. Same with unlimited wealth. Everything has a limit. The question is how do we limit them.

  9. funny thing he talks about extreme poverty while living away from and above society for the past 20 years, they know nothing of living in poverty or how to escape it….. this seems blatantly obvious but people are stupid…. btw he didnt get lucky and escape poverty he was born to a rich family…..

    just to be clear capitalism is the fix….. he sounds like a puppet for socialism, oh wait

  10. Josh is a Marxist Libertarian who wants to eliminate money from transactions and who knows that money is an artificial limiting factor.
    He's writing a manifesto:
    Smart Surplus-Driven Bartering and Systemic Liberty
    The Principles for Ideal Society, as envisioned by Joshua Adam Stith
    The second chapter of his manifesto explains his argument against the use of money, and proposes an economy he invented called "The Yielding System Economy".
    If you agree with Josh that money should be eliminated from society, friend him on Facebook to be added to his secret Facebook group.

    Copy-paste this to at least two public forums if you want more people to find his manifesto.

  11. In the age of automation, there will be fewer workers and more profit for the rich. Capitalism (Marx thought it was the quickest way to prosperity) may at last find answer to age old problem of redistribution of wealth.
    I expected Bill to address the problem (central to survival of capitalism & the world as we know it), but forgot he was an electrical engineer like me and not a failed economist like Marx.

  12. Bil gates is a criminal, is part of the persons back to the socialist globalism conspircy!
    what capitalism???? there is no capitalism today in any country, you fool! today we only have fabian socialism, corporativism, globalism, social democracy, comunism from left wing. bil, you are part of this, you idiot! good people are against you. we togeter with trump!
    liberal capitalism! free market, self regulated!

  13. Capitalism is becoming known as a faild system.. umfair.. fake..a con .. for the few… oligocic … selfish.. ostentatious.. causes division leads to mass murder and war.. Bill when you die you can't take it with you and understand most people are not gullible and able to be duped. capitalism is dieing and a new system will be born and the money you have selfishly stolen of workers and the community will be distributed fairly. Payment rendered where payment due mr gates…

  14. Bill are you still on a mission to prove the world is most peaceful and just today? I think I was with you 50% of that gibberish 🙂 Can you understand the lack of peace and justice I am attempting to show in regard to the oppressed? How to Fix Capitalism? or Socialism? or Communism? or any other ism man can conceive to rule himself by? It's not going to do anybody any good in the long run if man first doesn't know how to correctly identify murder as Evil and oppose it… as I see it… sure you may find some false peace for your Nation for a while… Hell for all I know you might be able to live in false peace knowingly letting another Nations oppressed suffer for centuries… and Bill Gates who is doing good works… thinks he's on a mission to prove were more 'peaceful' and 'just' society… but the oppression of the people is ignored as I have seen historically (I'm new at this) and the murderers not branded Evil until their trying to take over your front door. As is done unto this day by the UN who have no definition for person and where Just force and prosecution of the guilty goes undone… 2013 North Korea was ruled as starving and oppressing the people but no action was taken, authorized or advised. I am against this false sense of peace creation without the acknowledgement of murderous regimes who make their intentions known no matter what banner or religion they fly as Evil. The Doctrine of self-determination should have bounds but is not bounded by the UN. It does not because humanity in general is not willing to do what is necessary to overcome the odds until it is too late and millions of lives are lost and their own is in jeopardy I suppose… You are peace whores who have nothing to stand for and who's pacifism only leads to a false peace for yourself and suffering for those you refuse to stand up for and ignore I suppose… Who made us responsible? Knowledge has increased… If you were running around the land a long time ago and ran across Rasputin's castle all dressed out with man after man impaled on sticks what would you do? Ignore it? Definitely run like your life depended on it away… But the neighbors and adjacent landholders had to stop the mad man… Same thing with the blood bathing Queen Castle… although I think they let her live… Anyway, no different now… Nations have knowledge of other Nations like never before and like the monetary system that is New and should be overseen by the Creators of the system so should Nations be responsible for their NEW knowledge…. How can we knowingly call ourselves living in peace and righteousness while we let a dictator murder and starve his people in order to destroy us and do nothing? Why bother fixing Capitalism Bill? When their to my eyes clearly is no peace… in the minimum requirements… Then somewhere from the other side comes the fear of something 'more Evil' arrising… You can't know which grain of sand will fall here or their and to tollerate known Evil in fear of something worse is just as if you accepted it and condone it when you have power to stop it… Nations have armies for reasons… Good people don't go into that proffession to sit idly by and watch Evil persist… But then again no one is willing to identify it even after Hitler. I find that appathetic, dishonest, and unvirtuous at it's core. Open your eyes and see Evil!!! Bill there is no peace… and the oppressed have historically found no justice to my knowledge.. you loose on that one 🙂 unless I find knowledge to contridict myself. But hey who's counting.. I think you set your bar too high… yeah violence may be on the slide but that's just natural up and down of nature admit it nothing fundamental has changed in the government or religion or man and whatever we do is only pennies and nickles this way and that… Unless the systems fundamentally change how does man change without knowledge? What is Science going to get him out of this? Science already did enough damage for a lifetime and more in the real of destruction… If you don't define some morals no one is safe… Our International Laws do not have a definition for people 'shesh' isn't that obvious enough and do not have a definition for Evil-Self Determination… Which only arose after the first great land war I suppose and continued as a land war into the second great war… No virtue or value established or praised… Good people fought to fight Evil and our Leaders of the time did nothing but perpetuate the problem and the people did not reject. I have a problem understanding this in retrospect which is all I have. I am not talking about these so called 'human rights' violations as they say oppresses their freedom… I'm talking about citizens being oppressed unto death like North Korea… Now what to do about a Nation with Evil Self-Determination like Iran who's known mission which is not hidden is the destruction of Israel which has the support of the people is another problem but you don't go handing them the bomb your Nation unethically created. Then run around patting yourself on the back… Either we recognize murder and murderous Intent of Nations who make their inset clear and known as Evil or we as humanity fall into the same ruin that caused the fall of all past civilizations I suppose… There can be no peace without the recognition of Evil first… as I understand peace.. and Peace requires 2 parties to co-exist… Justice requires the elimination of the Evil party who ultimately refuses to turn… I can't believe I have to plead with people for the cause of the oppressed and to see Evil as Evil but who has real clear vision? I think I might have some sight… row, row, row your boat I suppose…???

  15. Hey dad.. that Nation is going to be able to do mass destruction and evil why can't I? Note the lead scientist on the Manhattan Project realized this and rightfully quit… So this is science? Does this actually make sense to anyone and who among us thinks America's shores were threatened at the time of the dropping of the atomic bomb by Truman who made an lone American a murderer… and who's smirk and laugh at the announcement is deeply disturbing… If he wanted to quit fighting he should have taken the Nation home… But Nevertheless the victory bell was rung and chimed and in essence reminds me of the often heard Christian song 'Victory in Jesus (of Nazareth)'… Seriously? Is that what they taught you? Victory can be won by an evil opponent… Were all going to die eventually anyway…. I suppose the ultimate question is what will you do to secure your own survival? I watched the Belko Experiment and I realized or became aware of my 12 year old friends presence in the room at the point where it got too adult… We then proceeded this long drawn out conversation about murder for the entire duration of the show… 12 year olds ask questions that you may or may not be prepare for… So the Movie is this there are 80 people stuck in a building controlled by the government and psycologists… trying to understand human nature supposedly… they say if the group of 80 doesn't kill 2 people they will be punished… Initially they decide not to kill anyone and 4 people die from the implants the company put in the people… Then the voice goes on to say next you have to kill 30 people or 60 people will die… This is when I decided to speak to my friend… the groups were in obvious disarray some for some against and as is human nature they started to divide… So I told Harry… To me the most logical thing to do at this point is hide because I'm not murdering anyone unjustly period. Of course we had to talk about justice later… This movie was too intense for him… Anyway… The group that decided to kill people fell 2 people short so 60 people died leaving 16 people. Of course the point of look at all this murder and it accomplished nothing…. Then he's asking questions about what if someone breaks in my house ect… Anyway of the 16 people left the person with the highest murder count would be the only one to be allowed to go free… I told Harry I guess at this point I will probably not survive… or be last… When it all comes down to it… Life is messy and you have to decide if your going to be good or bad because your going to die anyway… there's no second chances…. there's no murder to save a life… the commandment and authority as I understand it to wage war is clear 'Whosoever sheds man's blood by man must his blood be shed'… if the Nation is tired and doesn't want to play by the rules it should go home. Evil exists yes, and I did not create neither am I responsible for how lost we got… I just know the difference between wrong and right and don't understand America's apathy in this regard…. I'm disillusioned…. Evil won in the battle for the was no good President present…. Now I do not agree with Trump on all things I am independent put to his courage he has correctly identified 2 Nations of Evil Self Determination… Hear him on this I think… Lest we ignore another Hitler… or maybe we just want to sit on a beach in mexico and drink beer? That's a valid option I suppose… He is not wrong… The Identification of Evil has not been done in decades properly… Let's start here? Murder is Evil? Shesh why is this so hard? We as a nation can vote to throw someone in jail for misidentifying gender but we can't identify a regime who itself declares murderous intent as Evil? Why? because were too concerned with what religion they identify with I suppose… Who the hell cares what religious banner their flying? Murder is murder it's that simple and the plain truth escapes us like how to identify where the 'black man' from the 'amistad' ship 'came from' in 1836… or like there is no one and no Creator involved in such a complex and intricately designed universe which does not as reasonably known to man or unreasonably for that matter happen without a Creator…. Yet the obvious Creation is denied then those of reasonable intellect treated like fools for believing despite the fact that you also must make a tragic error in belief in accepting evolution without enough proof… 'keep digging boys… don't know why you want to prove that and your wasting your talents… but don't let me stop you'… Each sides… and perhaps even I although my situation is beyond your understanding… I have experienced so much abnormal alterations of reality that is impossible to not realize something extremely abnormal and without known precedence is happening in my universe… It has happened since 1999 and has continued as not isolated incidences but in retrospect it mostly makes sense… It's bizarre beyond your imagination… I know the truth because I experience it and while it didn't make sense at the time… most of it is understandable now… I will say it started when I was agnostic with a tear-filled prayer from the depths of my soul that went 'God, Lord, I want to make my ways pleasing to you'… then I thought to ask for a sign then thought to God 'no I don't need a sign'… I look up and there is something there that I specifically told God I didn't need… 5 symbols in the shape of an arch… it get's complex after that… but that's my problem I suppose… Anyway whatever… go on about whatever you were doing I doubt anyone will bother to read all of this… I'm just rambling because I need to make my opinion known and reasonably clear… I find this new knowledge deeply disturbing… I may learn different down the road… There is an essay on my YouTube about the conclusion I am now willing to render and change the age… I did not draw this conclusion hastily it only took me 17 years and about 1000 view points…. I did not 'run after the new thing'… I bypassed it at first… cast it off as a strange thing.. and I was not ready to call it complete and change the age until I was able to write after contemplating writing for about 1.5 years… I'm not that good at writing… then 4 wild ride day happened which is hard to explain and I was able to write… Consider yourself me and you experience this and know this and say nothing? What kind of person does that? Anyway… I am secure in this truth and the conclusion that was found from the signs… After that history is sad… If you could see it through my eyes…

  16. And since I'm just blurting stuff out… Energy needs is important but who is going to be around to use it if we don't get our act together and blow each other up? Yes, perhaps I am rambling… 2013 North Korea was ruled by the UN to be oppressing the people and some reports likened it unto Hitler's oppression. The people are starving… why? Most likely because it is so costly to develop an atomic bomb which was the Nations stated self-determination for a ridiculous number of years… I have no clear answer for this but the point at which it was known he was oppressing the people nothing was done because he wasn't 'Trying to take over the world yet'… and what about the oppressed people? Pacifism only leads to peace for yourself in the face of an oppressive dictator… In principle should not Nations hold their own piers to at least some moral standard? The UN can't even come up with a definition of person. Let alone stand for any finite real values… I hate to tell you this but as an American I know understand this country was not built on any real solid values like Don't Murder, Don't Steal… the 1839 Amistad court case reveals that and it only took 7 presidents to make right what was possible but undone because of supposed freedom. It just get's worse after that I suppose… American's were really not that great… in a rational objective retrospect… But like North Korea and it's movies we too hold our flag high and sing victory songs…. same thing with political parties right? No rational discussion and all about victory at whatever cost? I'm so sick of cheap victory talk…

  17. Let's take this concept one step further back in the olden days before money was popular there was trade… and granted that wouldn't work out so well now days… but you can only store up so much tangible assets up for only so long lest it all rot… nothing rots these days… The electronic money system is a NEW creation… So what we just continue on in the old way? Remember you can only store so much tangible assets up right? And as for Bill and Melinda Gates and their public philanthropy which I sometimes but rarely hear criticized… Everybody in the olden days of Israel knew who's field they were going down to in order to glean from it. Charity should be done in public by this knowledge… If the rich do it the poor should too which will encourage more charity… We don't have to whisper… and we don't have to all be gluttons storing up one's and zero's in banks… The age and technology has changed and we should go back and realize the virtue of the old ways and take charge of our own digital monetary creation… but then again I suppose everybody just want's it to stay that way so they can get a mansion with 40 rooms they don't go in and a toilet that works the same as their present one? To the one's who disagree with the public charity comment… Maimonides allows giving money and candy to children in hopes that eventually they do it for the right reasons… Besides… at that point do reasons matter? yes… but it's getting done. To much goes undone because we don't realize that WE ARE THE ONE'S THAT CREATED IT AND ARE RESPONSIBLE FOR IT… Legislate responsibly and reasonably…

  18. I have an idea… Perhaps creating a wealth ceiling would be a good idea… Yes, it's yours you created it you earned it but as the government I am responsible for my own creation so when you reach the ceiling spend it or loose it… No taxes… No rules… Just spend it or loose it and then it's not all stored up in banks and it get's back out into the economy. Granted some may spend it in ways I might not like but I'm not a control freak… The point is it's ridiculous to allow people to store so much needed assets up in virtual barns and not use it… Bill Gates could have gone off building idolatrous temples around america and employing people to do other not good activities perhaps even Evil… America got lucky this time… It needs to think. You are responsible for the money you create as a country… You need to take that seriously and stop all this unrealistic gluttony. Life is not economically fair and we all know it. A personal bias charging what the market 'will bear' is usury but that's just me. The Government needs to take control of the dollar it created. Enough of this taxes here taxes there the wealthy this that and the other… I created it, I control it and it's time I took responsibility for it's good management and use… mind you it's not a tax… it's a spending spree… I suppose there might be a loophole for someone wanting to create his own country *rofl*… enough said…

  19. Bill Gates just wants to make sure that there is an endless supply of slaves for the billionaires. Did he mention that productivity of workers steadily increases but wages have been stagnant for 30 years.

  20. Do you believe the balls on this eugenic crony nannie state welfare patent federal reserve supported queen scum bag? A guy worth like 80 billion is calling other corporations greedy? Is there any shame or embarrassment left in the world? Does he actually believe anyone cares or listens to want he says?

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