IIM Calcutta: Businesses should solve problems, not focus on profits, Nobel Laureate tells students
New Delhi In a world grappling with social inequality, wars and climate change, this Nobel Laureate’s lessons on The world of three zeroes: zero poverty, zero unemployment and zero carbon emissions definitely made sense for management students. Bangladeshi social entrepreneur, banker, economist, civil society leader and the founder of microcredit pioneering Grameen Bank, Mohd Yunus, was delivering the Arijit Mukherji Memorial Lecture at the Indian Institute of Management Calcutta on Tuesday. Professor Yunus, who invented social business and earned a Nobel Peace Prize for his work in alleviating poverty, is one of today’s most trenchant social critics. Through the lecture he shared his insights on zero poverty, zero unemployment, and zero carbon emissions. It was time to admit that the capitalist engine had broken down. In its current form it inevitably led to rampant inequality, massive unemployment, and environmental destruction, he said.