Let's break the pot

by Bec on 10 March 2010

I don’t think there’d be a social entrepreneur on the planet who doesn’t have Nobel Laureate Muhammad Yunus as their hero and guiding light. Well today I was privileged enough to have lunch with him – me and about 400 other people at the Business for Millennium Development luncheon. (Thanks to the Centre for Social Impact for their generous lunch invitation!)

From the first loan of $27 he gave out to some poor Bangladeshi women in 1974, Muhammad’s Grameen Bank has now lifted millions out of poverty by disbursing $6.6 billion in tiny loans.

Although much of the world is breaking their Millennium Development Goal promise to halve poverty by 2015, Bangladesh is tracking well. And Muhammad’s tireless work over the last 25 years is having real impact, particularly for women and their children. The primary and secondary school system is now comprised of 65% of girls and Bangladesh’s whole society is being transformed as a result. In his words a Bangladeshi woman can now say, “I’m in the driver’s seat of my life.” His talk seemed particularly fitting given that yesterday we also celebrated International Women’s Day.

Muhammad is not only practical in his approach to poverty alleviation, but challenging to those who hold power in our capitalist system. His challenges to companies like Danone have shown the possibilities of social business and business partnerships. I am eager to see how Adidas responds to his challenge to make $1 shoes that are affordable to the poorest person along with being biodegradable and non-polluting to Bangladesh’s waterways.

Muhammad’s talk was a real call to arms for social entrepreneurs, and a call to look for solutions in creative and unconventional ways. As he said, “I still don’t know much about banking – and that’s helped me a lot. Knowing too much gets in the way.”

In talking about being liberated from the selfishness of the current capitalist system Yunus said:

“‘Real human beings are multidimensional and not just one dimensional about making money….. When you get rid of the idea of making money, you’re free…..We need to allow selfless or social business and selfish businesses into the same marketplace and solve problems using business means….We need to open the door and the technology and creativity of people can solve problems. Social business is the door that opens this.”

Whilst Muhammad’s talk was always due to resonate deeply with me, its timing was particularly significant given we’re only days from having our first trainees start and our first business operations kick-start at Fed Square. He was a compelling and eloquent reminder of why STREAT exists, and why poorness and disadvantage don’t have to be inevitable for anyone—why we shouldn’t stop until they’re gone.

One of my favourite things he said was this: