The Right Kind of Capitalism

William Easterly argues that Bill Gates' "creative capitalism" still does not compare to profit-motivated capitalism in helping the poor.

Bill Gates' creative capitalism: Boost the recognition of corporate philanthropy to encourage for-profit companies to serve the poor since it enhances their own reputation and appeal to customers.

William Easterly's profit-motivated capitalism: Regular capitalism, where companies act on their own self-interest to sought the most efficient and productive mechanisms.

I do not know enough to embrace and maintain a particular stand on this debate. However, when pressed, I might take Easterly's side. If his numbers are even approximately correct that globalization and capitalism have increased annual average income since 1950, then the burden of proof is on Gates to claim that his scheme will perform better.

On a side note, I just found out from the same article that the Philippines has 72% of the world market in electronic integrated circuits. But I knew before that Intel had a big office (almost) near our place.