I'd like to throw a thought into the wind to see how others feel about Bill Gate's idea of creative capitalism.

Here's a quick summary of the concept.
Early last year Mr Gates introduced the concept of a more creative capitalism which is capitalism re-engineered to "stretch the reach of market forces so that more people can make a profit, or at least make a living, serving people who are suffering from the worst inequities. " Essentially, Mr. Gates was suggesting that profit and social responsibility are not mutually exclusive concepts.

He comments that young people today want to be involved in helping the poorest to decrease these inequities and to want to work for corporations that are devoting some of their energies towards these efforts. Self interest, meet larger interest...."

Perhaps this is how Generation Y should be define- in leading the why in this drastic paradigm shift in creating a better tomorrow. But I'd like to know if you 1) buy into this idea and 2) think that the current bigwigs of companies could embrace this concept to lay the foundations for this concept to fruition.

Thanks!
S

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Here are some reference links:
Gate's Harvard Commencement speech: (look around page 3)
http://www.networkworld.com/news/2007/ 060807-gates-commencement.html

Gate's own words for Time Magazine: http://www.time.com/time/business/ article/0,8599,1828069,00.html

Hi Sabby!

I totally agree. I feel like no one wants to make a living HURTING people, but if we can make a difference in this world and get paid for it that's what we're all striving for.

The big wigs at large companies do give to charities, maybe just to say they do, but i'd love to see more effort and capital invested in solving both social and environmental issues. There will definitely be a lot of profit in alternative fuels, even Big Oil execs are starting to see that. Unfortunately, though, helping the poor, making healthcare affordable, etc aren't very profitable, so the investment just isn't there.

I cannot escape the irony though, of this coming from Mr Gates, the man who has developed a company singly responsible for crushing numerous startups and generally coming off as "evil." Maybe he feels guity

(oh, and Happy Birthday!)

Interesting topic Sabby.

1) I think the whole world will have to start buying into a great number of changes that the economy and society will undergo in our lifetimes.

Gate's definition of 'creative capitalism' (more like crapitalism! j/k, it's a sincere topic) is only one example. It goes with out saying that I genuinely believe that as more mundane jobs are consolidated and usurped by technology, that the economy and society will evolve to allow more people to adopt entrepreneurial-like careers in which they can pursue their passion. In turn I think people are more passionate about solving huge problems like poverty than their current mundane jobs.

2) Why do the 'big wigs' that are currently in charge even need to 'embrace' or approve of this shift at all? I believe it will still, and only, happen without them.

They too can be leap-frogged by passionate entrepreneurs who understand and establish this new creative capitalism.

As Gates said himself, "The market did not reward saving the lives of these children." Even if it's socially conscious, I don't think the (financial) incentive is strong enough if only a few consumers (and it will only start as a few) demand it.

It will only be a smart strategy to focus on the socially conscious consumers niche for small start-up businesses. So that is my prediction.

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Do you think it would happen faster if we hypothetically could shift the big guys? What does everyone think of the inspi(RED) initiative?