It is capitalism that pulled billions out of poverty. Not vapid virtue signaling.

Business Fights Poverty Better Than Charity Does

Free market capitalism is the best path to prosperity!

Capitalism – which in its purest form is entrepreneurism even among the poorest of the poor – does work; but those who make money from it should put back into society, not just sit on it as if they are hatching eggs.

Free competition is worth more to society than it costs.

...entrepreneurship, resulting in large-scale job creation, was the only viable mechanism for eradicating poverty in societies.

There is one path out of poverty, and that is the path of wealth creation through the free market.

We are joined today by inspiring entrepreneurs from more than 120 countries and many from across Africa. And all of you embody a spirit that we need to take on some of the biggest challenges that we face in the world -- the spirit of entrepreneurship, the idea that there are no limits to the human imagination; that ingenuity can overcome what is and create what needs to be. And everywhere I go, across the United States and around the world, I hear from people, but especially young people, who are ready to start something of their own -- to lift up people’s lives and shape their own destinies. And that’s entrepreneurship. Entrepreneurship creates new jobs and new businesses, new ways to deliver basic services, new ways of seeing the world -- it’s the spark of prosperity. It helps citizens stand up for their rights and push back against corruption. Entrepreneurship offers a positive alternative to the ideologies of violence and division that can all too often fill the void when young people don’t see a future for themselves. Entrepreneurship means ownership and self-determination, as opposed to simply being dependent on somebody else for your livelihood and your future. Entrepreneurship brings down barriers between communities and cultures and builds bridges that help us take on common challenges together. Because one thing that entrepreneurs understand is, is that you don't have to look a certain way, or be of a certain faith, or have a certain last name in order to have a good idea.

We’ve set two goals: ending extreme poverty by 2030 and boosting shared prosperity. How are we going to get there? Generally speaking, it divides into three main categories. One is economic growth. If you look at the greatest achievements in lifting people out of poverty, China, almost through brute economic growth, lifted 600 million people out of poverty. The second big block is investment in human beings. In other words, making sure that the poorest people have some kind of income or sustenance to be able to consume and, potentially, participate in economic growth. And a third category is social protection.

Competition does a much more effective job than government at protecting consumers.

All it takes to get poor people out of poverty is for us to create an enabling environment for them. Once the poor can unleash their energy and creativity, poverty will disappear very quickly.

Prosperity creation is the sole route to the elimination of poverty. And to create sustained prosperity, you have to create something truly world class.

Indeed entrepreneurs are the lifeblood of a Nation’s economy. Cheers to all SMEs across the world, especially those here in Africa, creating jobs and driving economic change.

Capitalism is about the mutual creation of wealth rather than the pillaging of it.