Page 10 of the reading (E-module 15, CISL) about “Creative Capitalism” proposed by Bill Gates (creating profit while helping the poor) interests me a lot. I was reading Creative Capitalism: A Conversation with Bill Gates, Warren Buffett, and Other Economic Leaders (written by Michael Kinsley) in the past months. At the 2008 annual meeting of the World Economic Forum in Davos, Bill Gates first presented the creative capitalism idea in which multinationals, the distinguishing feature of the modern global economy, integrate doing good into their way of doing business. Such controversial new idea is discussed and debated by over forty contributors to this book, among them three Nobel prize winner and former American cabinet secretaries. Creative Capitalism challenges the conventional wisdom about our economic theory, a blueprint for the new global economy that is emerging as capitalism caters itself once again to a rapidly changing world.
My fellow cohort classmates would know that I’m passionate about education and is taking a deep dive into the Confucianism world. According to Confucius, “education is for everyone, irrespective of background”. Therefore, education is facing a similar dilemma as the Creative Capitalism idea proposed by Bill Gates, which is, the necessity to strike a delicate balance between profit-making versus social responsibility. Back in 2011, the US Government promulgated the “No Child Left Behind Act” to encourage “education is for everyone, irrespective of background”.
Understandably, similar dilemma and considerations are applicable to healthcare industry especially in light of the rapidly ageing population. How do governments around the world ensure all walks of life, whether the rich or the poor, have access to quality healthcare at affordable rates, is a big policy issue and a focus of the United Nations’ Sustainable Development Goals.
When 90-year old Mr Li Ka Shing (Asia’s richest man) announced his retirement few weeks ago, he explicitly mentioned education and healthcare are the two areas in which Mr Li and his family foundation would like to focus on post retirement. This echoes what Bill Gates (besides numerous other billionaires post retirement) has proposed and is pursuing.
Education and healthcare are closest to my heart. Very keen to follow how these two industries (globally) evolve to achieve dual bottom-line in the years to come.