Gates Calls for Creative Capitalism to Help Poor

By Reuters -  |  Posted 2008-01-24 Print this article Print

Microsoft Chairman Bill Gates called for a new "creative capitalism" to help the world's poorest people.

DAVOS, Switzerland (Reuters) - Microsoft Corp Chairman Bill Gates called on Thursday for a new "creative capitalism" to help the world's poorest people.

Gates, one of the world's richest men, was not dumping the basic tenets of capitalism but argues market forces must be better used to address the needs of those left behind by advances in technology and healthcare.

"We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well," he told the annual meeting of the World Economic Forum. "I like to call this idea creative capitalism."

The speech to top businessmen and politicians in Davos reflects Gates's growing focus on philanthropy. Gates built Microsoft into a formidable and sometimes controversial money machine, which has been accused in the past of abusing its market position.

But he will retire from full-time employment at Seattle-based Microsoft at the end of June to concentrate on his charitable organisation, the Bill & Melinda Gates Foundation.

(Reporting by Ben Hirschler)

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