Bill will call for “creative capitalism” at the World Economic Forum in Davos today, WSJ reports.
What is “creative capitalism”?
Bill says that “creative capitalism” uses market forces to address poor-country needs that he feels are being ignored.
Wow. That is right up BUZZYEAH’s alley. We fully support “creative capitalism” around these parts.
Bill says, “We have to find a way to make the aspects of capitalism that serve wealthier people serve poorer people as well,” in the WSJ-previewed copy of the speech.
Later in the speech, Bill says he’s troubled that advances in technology, health care and education tend to help the rich and bypass the poor. (Note: These are areas that BUZZYEAH will cover in the future, especially technology.)
He also says that companies should focus on creating products and services for the poor. Bill notes, “Such a system would have a twin mission: making profits and also improving lives for those who don’t fully benefit from market forces.”
Awesome.
Look for a new BUZZYEAH category in the future called “Under $2 Crowd” that will spotlight innovative products and services aimed at the two billion or so people who make under $2 per day.
The WSJ article highlights an amazing book by C.K. Prahalad called “The Fortune at the Bottom of the Pyramid” that really influenced Bill’s thinking behind his “creative capitalism.”
The same book has really influenced my thinking, too. In fact, I spent my Summer 2006 working at a microfinance institution in Bangalore partly because of that book.
You can grab Prahalad’s excellent book at Amazon:
Here is a video of Bill Gates talking to WSJ’s Rob Guth about “creative capitalism.” It’s only 4min long, so definitely watch it:
Bill will be giving his official “creative capitalism” speech sometime today at Davos. I will post the Davos speech video below if I find it on YouTube.
