In January, I wrote about the proposed creation of the World Development Corporation (WDC), a new institution which would harness the capabilities of MNCs to confront global poverty while at the same time reviving their legitimacy and maintaining shareholder value. The for-profit entity would work closely with NGOs and governments to invest in and scale up viable social enterprises like the ones we highlight here on Nextbillion.

The idea for the WDC comes from George C. Lodge, professor emeritus at Harvard University. Together with co-author Craig Wilson, Lodge has written a new book that examines the concept further. A Corporate Solution to Global Poverty: How Multinationals Can Help the Poor and Invigorate Their Own Legitimacy is due out in May.

In the meantime, Harvard has just published a great interview with Lodge in which he explains why nonprofits aren't the answer to ending poverty and asks that executives look beyond philanthropy to make lasting positive change.