Exclusive Exclusive: Former U.S. Vice President Al Gore Calls for Reform of Capitalism

Former U.S. Vice President Al Gore has called for a reform of capitalism in a Handelsblatt interview, suggesting the charged presidential primary campaigns in the United States have shown just how disillusioned people are with the system today. “Just look at how surprisingly angry and disappointed American voters are at the moment,” said Mr. Gore, who now heads the sustainable investment firm Generation Investment Management together with David Blood. Mr. Gore argued that many average Americans have watched middle-class incomes fall even as the economy has grown. “I believe many people feel the capitalism we’ve had until now is just not working for them anymore,” added Mr. Gore, who won a Nobel Peace Prize in 2007 for his fight against global warming and served as vice president under Bill Clinton from 1992 to 2000. Economies should become more sustainable, according to Mr. Gore. It is “the obsession with short-term goals” that damage an economy, he said, adding: “I am interested in results that don’t appear on a Bloomberg terminal – results that don’t fit into a quarterly results cycle. It’s about reforming capitalism, changing course.” While Generation Investment Management is not invested in any German companies at the moment, Mr. Gore said “we are always looking out for investment opportunities in Germany.” Especially German firms’ leading role in digitization and creating networked factories – often called industry 4.0 – have made the country an interesting target, according to the former politician. “We are very impressed with these companies’ quality. Every time we talk about big questions about the future, it is often in a conversation with a German company,” he added.   Read the full interview in Tuesday’s Handelsblatt Global Edition at 12:00 CET. Photo source: Reuters