The New Kind of Capitalism That Serves Humanity's Most Pressing Needs
August 1, 2010
Yunus (Creating a World Without Poverty) uses the selfish/selfless dichotomy of human nature to explain the fundamental difference between his concept of for-profit business vs. the social business. While the former seeks to maximize profit for the benefit of the owners, the latter aims to pursue social objectives for the benefit of poor customers and employees. Likewise, the social business differs from a traditional nonprofit because, like a for-profit business, it is self-sustaining through its sale of goods and services. Yunus developed the social business concept during the crushing 1974 Bangladesh famine. Local villagers, seeking aid for their entrepreneurial endeavors, found themselves virtually enslaved to moneylenders. By repaying the loans owed by these 42 enterprising souls, Yunus stumbled on the concept of microcredit. VERDICT Yunus engagingly profiles international social businesses, whether launched by multinational corporations or conceived by ordinary people with a vision to solve social problems. He offers practical advice for starting your own social businesses: from idea generation to the nuts and bolts of launching and running the concern. His impassioned dream of a different version of capitalistic endeavor is as inspirational as it is practical.--Carol J. Elsen, Univ. of Wisconsin-Whitewater
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