Skip to main content

View Diary: The Question of Socialism (and Beyond!) Is About to Open Up in These United States (9 comments)

Comment Preferences

  •  Interesting interview in NYT w/ Microfinance (0+ / 0-)

    founder and Nobel Peace (not Economics) Laureate Professor Mhd. Yunus


    You often speak about the emergence of a new kind of business, you call it social business, which is different from what we usually think of as socially responsible business. Can you explain what you mean?

    Capitalism has been interpreted as an exclusively profit-centric human engagement. Some have been saying to bring people and planet into the picture. This can be a good change, but it is still not fully operationalized. Are you putting people, planet and profit at the same level?

    What I have been trying to promote is different. I dismiss personal profit, and focus exclusively on people and planet. That’s what I call social business: a nondividend company dedicated to solving human problems. You can go all the way, forgetting about personal profit, being single-minded about solving problems. The company makes profit, but profit stays with the company. The owner will only get back the original investment. Nothing more.

    I’m not saying to get away from profit-making businesses. I’m saying keep these separate, run them in parallel. There is a toolbox to solve the problems of poverty, unemployment, the environment. All I’m doing is adding one more tool to the box.


    What makes you confident the idea will grow?

    There’s a whole generation of young people coming up with social business ideas. Profit making doesn’t interest them as much as it interested people before, particularly the postwar generation. Their main question is: What am I going to do with my life. What is the purpose of my life?

    "..The political class cannot solve the problems it created. " - Jay Rosen

    by New Rule on Wed Apr 17, 2013 at 11:04:15 AM PDT

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site