January 31, 2008 — 03:58 pm
Yesterday, I attended a panel discussion entitled "Creative Capitalism: Can It Meet the Needs of the World's Poor?" The panel of experienced practitioners and academics was convened to respond to Bill Gates' recent speech at Davos where he encouraged "an approach where governments, business, and nonprofits work together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world's inequities." A big thanks to The Bradley Center for Philanthropy and Civic Renewal at the Hudson Institute for bringing together the panelists and hosting this timely discussion.
With an interesting assortment of panelists, and a variety of interpretations of Gates' speech, the discussion included a little bit of everything - from economic theory and political ideology to technological developments and field results. The central contention that seemed to emerge was whether or not market-based solutions are a viable method of poverty reduction, given that existing markets are not already targeting to poor, and have, in fact, exacerbated inequalities in many instances.
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Last summer, while writing case studies for the
Grace Augustine is 
Position: Director, TED Fellowship Program
Noting in his recent address to the World Economic Forum in Davos, Switzerland that "we have to find a way to make the aspects of capitalism that serve wealthier serve poorer people as well," Microsoft’s Bill Gates called for a new system of "creative capitalism" -- "an approach where governments, businesses, and nonprofits work together to stretch the reach of market forces so that more people can make a profit, or gain recognition, doing work that eases the world’s inequities."
'Innovate or die' is the challenge issued by the pedal-powered machine contest sponsored by
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