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" "In this world of plenty, a tiny baby, who does not yet understand the mystery of the world, is allowed to cry and cry and finally fall asleep without the milk she needs to survive. The next day she may not have the strength to continue living. I
Muhammad Yunus (Bengali: মুহাম্মদ ইউনুস Muhammod Iunus) (born June 28, 1940) is a Bangladeshi banker and economist. He is the developer and founder of the concept of microcredit. In 2006, Yunus was awarded the Nobel Peace Prize.
Biography information from Wikiquote
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In the United States I saw how the market liberates the individual and allows people to be free to make personal choices. But the biggest drawback was that the market always pushes things to the side of the powerful. I thought the poor should be able to take advantage of the system in order to improve their lot.
Grameen is a private-sector self-help bank, and as its members gain personal wealth they acquire water-pumps, latrines, housing, education, access to health care, and so on.
Another way to achieve this is to let abusiness earn profit that is then txed by the government, and the tax can be used to provide services to the poor. But in practice it never works that way. In real life, taxes only pay for a government bureaucracy that collects the tax and provides little or nothing to the poor. And since most government bureaucracies are not profit motivated, they have little incentive to increase their efficiency. In fact, they have a disincentive: governments often cannot cut social services without a public outcry, so the behemoth continues, blind and inefficient, year after year.
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Like any other idea, that of social business is subject to being misused and perverted. A few powerful people will look for ways to distort the concept and twist it for their own benefit — just as some misguided people have applied the term “microcredit” to describe companies that are really just loan sharks in disguise. Well-intentioned people will need to be on guard against those who would abuse the good name of social business.