Creative Capitalism with Social Business...

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Nobel Laureate Dr. Yunus debates on why his previously published views on Creative Capitalism missed the mark... A B&E exclusive

My interview titled as “I don’t believe in ‘Creative Capitalism’!” was published in Business & Economy as a part of a cover story titled “Saving Capitalism” on October 16, 2008. The interview gives a completely different presentation of my actual views on the subject. This will create total confusion in the readers mind. I would like to clarify my views on the basic issues. I hope you will publish my letter to remove the misgivings in the minds of the readers.

The appropriate title of the interview would have been “Creative Capitalism with Social Business”, because that is what I have been pleading for. I was very excited when Bill Gates proposed the path of “Creative Capitalism”. It made my job immensely easier. It needed courage and conviction for Bill Gates, a life long beneficiary of capitalism, to say in unambiguous words that capitalism as practiced now misses out many important issues of human life ¾ poverty, health, nutrition, housing, etc. He took the initiative to direct capitalism to those areas and called it “creative capitalism”. Of course, any human organisation has to be creative. That is not the creativity Bill Gates was referring to.


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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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