U2 frontman Bono spoke about capitalism at the World Economic Forum in Davos, and said that capitalism is “not immoral”.

Here’s the statement:

“Capitalism is not immoral – it’s amoral. It requires our instruction. Capitalism has taken more people out of poverty than any other ‘ism’. But it is a wild beast that, if not tamed, can chew up a lot of people along the way.”

He also drew attention to aids, and said that 7,000 women a week were being infected by HIV/Aids. He continued:

“We could lose this thing. We were winning. We have been somewhat put on the back foot by the understandable concern in northern economies that we have problems in our own cities. If there are people on the streets in our own cities, why should we care about what’s going on over there?

The answer is that what is going on ‘over there’ affects us. If Africa loses, Europe can’t win. But we have got to get back into the conversation. We need a response to what is going on in our own cities.”

Click here to source of the statement. Watch the statement below.