What I did not know yet about hunger, but would find out over the next twenty-one years, was that brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. They believe that these will be resolved when general economic prosperity increases. These economists spend all their talents detailing the process of development and prosperity, but rarely reflect on the origin and development of poverty and hunger. A a result, poverty continues.
Interpretation
The quote highlights the neglect of poverty and hunger in economic discussions, suggesting that prosperity alone does not address these issues.
In this reflection, Muhammad Yunus critiques the prevailing mindset among economists who focus primarily on development and prosperity, often overlooking the critical issues of poverty and hunger. He argues that while economic growth is important, it does not automatically resolve the systemic problems that lead to hunger and poverty. By failing to engage with these fundamental human issues, economists contribute to the persistence of poverty Rather than finding solutions, they often leave these issues unaddressed while concentrating on theoretical models for economic advancement.
In practice
In a speech about economic policies, one might reference this quote to advocate for a more inclusive approach that addresses poverty.
Civilization has given us enormous successes: going to the moon, technology. But then this is the civilisation that took us to debt, environmental crisis, every single crisis. We need a civilization where we say goodbye to these things.
People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.
Some people think that poor people are lazy. Actually, it takes a lot of work to survive when you are dirt-poor.
Once poverty is gone, we'll need to build museums to display its horrors to future generations. They'll wonder why poverty continued so long in human society - how a few people could live in luxury while billions dwelt in misery, deprivation and despair.
By simply capitalizing on core strengths and knowledge, companies and entrepreneurs can engage in an emerging business model that will enable them to create - and demonstrate - real, sustainable social impact in society.
Today, if you look at financial systems around the globe, more than half the population of the world - out of six billion people, more than three billion - do not qualify to take out a loan from a bank. This is a shame.
America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.
The social object of skilled investment should be to defeat the dark forces of time and ignorance which envelope our future.
If they are too big to fail, make them smaller.
When corporations refuse to practice due diligence by not establishing grievance mechanisms for remedy of abuses against the hidden 94% of their workforce in their global supply chains, they perpetuate a depraved model of profit-making that has driven inequality to a level now seen as a global risk in itself.
We have always known that heedless self-interest was bad morals; we know now that it is bad economics. Out of the collapse of a prosperity whose builders boasted their practicality has come the conviction that in the long run economic morality pays.
As soon as the land of any country has all become private property, the landlords, like all other men, love to reap where they never sowed, and demand a rent even for its natural produce.
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