Light SpotSeptember, Issue no 10 1. “Can Wealth Concentration be Stopped?” –Professor Yunus’ write up for Europe’s World 2. Statement from Nobel Laureate Professor Can Muhammad Yunus on terrorist attack on innocent people in Dhaka 3. 7th Global Social Business Summit, Berlin, 2015 Wealth 4. Professor Yunus at Davos 6. Business by New Enterpreneurs Cross Concentration 5000 Mark at 262nd Social Business Design Lab be Stopped ? 7. Dr Yunus 9th most admired personality globally PROFESSOR MUHAMMAD YUNUS 8. Highlights (November 2015- August Professor Muhammad Yunus’ Write Up for Europe’s World 2016) 12. Muhammad Yunus World Map of Happiness 14. Nobel Laureate Professor Yunus’ utcome of Paris Climate Conference means total wealth of 99% of the population of the inspires me to believe in citizen’s power. world will barely be equal to the wealth of the top Remarkable Olympic Journey Forty years of citizen’s persistent campaign 1% of the world. And it will get worse as year passes. 16. Professor Yunus Delivers Commencement O made it happen. We need to mobilize this power to US presidential candidate Bernie Sanders kept Speech at Babson Collage, USA overcome another impending global disaster -- the Yunus Social Business Centre in USA reminding in his campaign speeches that in the problem of continuous wealth concentration. This USA, the top one-tenth of one percent owns almost 17. FAO-Nobel Peace Laureate Alliance for trend is dangerous because it will destroy peace, as much wealth as the bottom 90 percent. Zero Hunger harmony, human rights and democracy. FAO holds Conference in Rome to Concentration is an ongoing non-stop process Oxfam has been giving us horrifying updates under the present economic system. Wealth is like Promote Social Business on wealth concentration each year. This year they 18. Professor Yunus receives “Women Deliver a magnet. The bigger the magnet the greater is its tell us that 62 richest people own more wealth pulling force. It draws smaller magnets towards it. Award” for Innovation than owned by bottom half of world population. That’s how the economic system is built. Yunus Portrait Unveiled at Glasgow In 2015 they reported that the 80 richest people, 19. A Decade of Inspiration and in 2014, according to them, 85 richest people Wealth-concentration is as dangerous as 20. YC Visit Programs owned more wealth than owned by the bottom environmental threat. One is a physical threat against the existence of the planet; another is a 23. Grameen America and Grameen half of world population. In 2010, six years back, threat against humanity, against the right of the PrimaCare to Empower Low Income it was 388 richest people who had the pleasure people to live with dignity and peace pursuing Women of owning similar wealth. They also told us that wealth of 80 richest people doubled in fi ve years, higher ideals. Grameen Vida Sana opens new Clinic in between 2009 and 2014. USA If the collective eff orts of citizens led by committed group of scientists and activists from all Khazanah Scholarship Assessment at Oxfam has a terrifying projection for 2016. sections of society could make us aware of climate Yunus Centre During the current year, they projected, the richest danger, I believe by following the same roadmap 24. Bulletin Board 1% of the world will own more wealth than owned by the bottom 99% of the world’s population. That we can galvanize forces to protect humanity Issue 10 1 from the danger of its destruction through ever- The reason that governments and charities Wealth-concentration is a global threat. The time intensifying wealth-concentration. Citizens have have to carry all the responsibilities of problem is ripe for us to recognize the gravity of the situation to create little islands of wealth harmony through solving for people is because business world is and take actions against it. We can initiate a process their efforts. They have to inspire the world, totally excused from it. Business is given a very clear to build a global consensus on bringing the speed particularly the youth, that this can be done and mandate to make money for the owner, nothing of wealth concentration to zero in phase one, and must be done. We have to remind ourselves that else. In the process mankind has been brought to negative in phase two. Both global warming and we are in an era where impossible become possible the verge of losing its human identity. Important wealth concentration arise from the same root faster and faster. This is one impossible that we’ll features of a human being are supposed to be -- a flawed economic framework based on human have to make possible very fast irrespective of all love, empathy, compassion, and fellow feeling. greed. the hurdles in reaching it. If we create a conceptual framework that allows We can undo both by reinventing ourselves in Can wealth explosion be stopped? My firm us, indeed encourages us, to express our deep the economic world as caring and sharing human answer is, yes, it can be done. Human beings can do rooted human values in our economic life we beings. We may aim at creating a world of three anything they want. There must be a strong desire can transform the wealth-pyramid into a wealth- zeros: zero poverty, zero unemployment, and zero behind it. Since it is our own creation, we can solve diamond. These values can be expressed easily net carbon emission, a world of diamond-shaped it through our own efforts, same as global warming. through social business. Combined power of wealth distribution, a world of equality, harmony, youth, technology, and social business will make peace and happiness. It can happen only if we Sustainable Development Goal number ten calls it happen. for reducing income inequality within and among citizens get into the action. countries through improving the regulation and Education has to play the key role. It should monitoring of financial markets and institutions, prepare the youth to become entrepreneurs. Youth encouraging development assistance and foreign should be made aware that they are born to be direct investment, etc. job creators not job seekers, entrepreneurship is in their DNA. They are born go-getters. Present I don’t think addressing income inequality is a education system produces workers to enhance real answer. We will have to address the cause, not the speed of wealth concentration. the manifestation of it. We must address the wealth gap which is the cause of the income gap. If we keep the wealth base unchanged any reduction in income gap will be ineffective. By mobilizing the citizen’s power we can Statement from Nobel Laureate Professor transform the wealth-pyramid into a wealth- diamond. We need to focus on the fundamental Muhammad Yunus on terrorist attack on issue relating to basic flaw in the conceptual framework of economics. We’ll have to redesign innocent people in Dhaka this framework. We cannot escape from that if we want to address the problem of wealth July 1 evening, 2016 concentration. We can correct the flaw in simple steps. One step is to add a new type of business I am shocked by the barbarity of the terrorist attack on innocent people in which is driven by selflessness, a non-dividend Dhaka on July 1 evening. I express my heartfelt condolences to those, far and business dedicated to solving human problems. It near, who have lost their loved ones. and wish their souls to rest in peace. will give entrepreneurs a new option. I am calling I cannot think of such attacks taking place in Bangladesh. I always believed this business as social business and have been Bangladesh to be a tolerant liberal country. We must do soul searching on how creating them in Bangladesh and around the this breeding of violence began in our country. We want to create a society world. Redesigning of economic framework is the peacefully shared by everyone, with everyone having their space, having the right for all to express their views freely, without fear or social or official constraints. We essential task in achieving an egalitarian society. want to be part of an emergent new world of equality and dignity. We need fundamental institutional changes, for We also want to promote the same values internationally. I appeal to all nations example in the financial sector. Two things need to to work to bring lasting peace in Middle East. Violence, military or terrorist, can be done. Firstly, existing financial institutions have no longer be can contained in one country or region. We are seeing this every to be redesigned so that they cannot continue to day, and must wake up to the fact that violence in one place breeds violence function as the engines for wealth concentration. even in remotest places of the world. I plead to the powerful nations please Secondly, we need to build an entirely new set of overcome differences among yourselves to bring peace in the Middle East so we financial institutions to deliver all financial services have better chances of peace in our cities and communities around the world. to the poor. One example of such an institution I urge the civil society leaders to bring pressure on relevant parties and super- powers to stop violence and to go to the negotiating tables to bring immediate is Grameen Bank. These exclusive institutions, peace in the Middle East. should be designed as social business rather than instruments of making personal profit for the rich. 2 Spot Light Issue 10 7 th Social Business Summit, Berlin, 2015 ore than 800 participants from 60 countries gathered at the capital of Germany, Berlin to attend the 7th Global Social Business Summit 2015.