About Social Business

I don't argue for transforming or replacing the conventional business. My argument is based on two basic features of human beings: selfishness and selflessness. Every person has both in him. Today selfishness rules the world because economic theory is based exclusively on selfishness of human beings. Selflessness has no scope to express itself in the business world because of the theory.

I am arguing for redesigning the theory to give proper place to selflessness. Social business is a business based on selflessness. Both businesses, selfish business and selfless business, will co-exist. The same person will be engaged in both businesses. It will be a free choice of individuals. It will transform the world. I am not arguing for banishing selfishness from the theory.

I am urging all business owners to create social businesses 'alongside' their conventional business. It is about discovering our own ability, as individuals, to solve human problems in a sustainable way.

Nobel Laureate Prof. Muhammad Yunus on The Daily Star Editor's Commentary published on May 29, 2015.