Melinda Gates, in an interview with CNBC's Becky Quick, said people living in developing countries 'want to live in these types of capitalistic societies.'
div > div.group > p:first-child"> "What I know to be true is I would far rather live in a capitalistic society than a socialist society," Gates said in an interview with CNBC's Becky Quick for Wednesday's episode of"Squawk Box.""I think when we stop and think of what we have from a capitalistic society, we have to remember what we actually have."
Without mentioning the political debate, Gates, who co-chairs the Bill and Melinda Gates Foundation along with her husband, Microsoft co-founder Bill Gates, defended the U.S. system. Yet she also acknowledged the need to address the gaps between the rich and the poor. Several American billionaires have argued that the modern version of capitalism isn't working. Wealthy business leaders such as Warren Buffett, Jamie Dimon, Ray Dalio and Bill Gates have called for fixes to widening economic inequality and the lack of public education funding. Some are advocating for public-private partnerships and higher taxes on the wealthy to address widespread income inequality.
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