NextBillion.net - Development Through Enterprise - Panelists Take On 'Creative Capitalism' - Comments

Conscious, moral, social and creative capitalism

Jeff Mowatt — Sun, 03 Feb 2008 02:45:42 -0500

Those are some of the terms used over the years to describe enhanced models of capitalism aimed at serving the poor. I'm aware of one other, called People-Centered Economic Development, pitched at Clinton in 1996. I became part of it in 2003. Intended in part as a wake-up call, with a formal model for development breaking totally from the nonprofit model, it warned of the consequences of ignoring the poor and disenfranchised and the risk of terrorism, 5 years before the event that was 9/11.

Found here as a synopsis, it exist as part of campaign records, in the Clinton Presidential Library.

http://www.p-ced.com/History/tabid/57/Default.aspx

It was put into practice to leverage a microcredit bank in Russia, with 10,000 businesses and "more than full cost recovery" over 5 years, then proposed as a model for development in the repatriated Islamic Tatar community of Crimea.

For the last 4 years, the same model is behind a microeconomic 'Marshall Plan' aimed at the transitioning democracy of Ukraine. A component mix targeted to deliver nil overall cost in 5 years.

efault.aspx...

So yes, I know what 'creative capitalism' will look like and have little doubt of its influence, even as far as the profound and radical change announced by USAID yesterday.

http://www.usaid.gov/press/speeches/2008/sp080201.html

To the originator, my colleague and founder I leave the last word - Peace. It's cheaper and more fun - is what he's been saying for a long time.

Panelists Take On 'Creative Capitalism'

Abigail Keene-Babcock — Thu, 31 Jan 2008 15:58:59 -0500

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.

William Easterly, distinguished scholar in the development field and well-known for his book The White Man's Burden: How the West's Efforts to Aid the Rest Have Done so Much Ill and So Little Good, was the first to take on ‘creative capitalism.'

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