Bill Gates Initiates Revealing Flaws of Capitalism

Bill Gates Initiates Revealing Flaws of CapitalismAs reported by the billionaire founder of the renowned software company, Microsoft stated in a conference in London that it was a total accusation of the economic system that a large sum of money is spent on researching over minor problems such as baldness.

Bill Gates presented the flaws of capitalism by stating that those researches like of reversing baldness have a large amount of expenditure. He suggested that the money should be instead spent on tackling the major havocs like the malaria.

He stated at the Royal Academy of Engineering's Global Grand Challenges Summit that the economy's priorities are affected by marketplace imperatives. He exclaimed with grief that the vaccination for treating malaria is the biggest need today. But unfortunately, it didn't receive adequate amount of funding.

He disclosed the fact that the large number of researches done for the treatments of baldness and age lifting depicts the influence of the demands in the market. As per the reports of the International Society of Hair Restoration Surgery, more than $2bn (£1.3m) is spent globally to carry forward the researches for developing surgical procedures for hair loss.

However, the reports of the World Health Organization revealed that only $547m was spent on malaria research in year 2010. The amount spent for the research of curing the HIV/Aids was about $1bn.