by Miriam Garvi
Since his speech in Davos last January, Bill Gates has been receiving accolades for launching his version of capitalism, which he has labeled «creative capital».
Creative capital à la Bill Gates (“Microsoft”) is a wonderland vision where global corporations satisfy their hunger for new markets by introducing technology to the poor, making everyone prosperous in the process. According to Gates, this will generate both profit and recognition, whilst making astonishing headway in the fight against world poverty. An improved variant of corporate social responsibility that we simply cannot do without.
And since the speech, creative capital has been center-stage.
But beyond the shimmering rhetoric, however, what does his suggestion really mean? Are we to understand that for the first time in history, the profit maximizing agendas of global corporations find themselves in harmony with the needs of the poorest of the poor? That products and services will now be created that can really help people out of their miseries?
Inspired by professor C.K. Prahalad’s fortune at the bottom of the pyramid, Gate’s version of creative capital envisions to reach untapped markets with technological salvation, making the rest of the world dependent on the know-how of those controlling the innovation.
This is not an eradication of poverty through profits, but a strategy for creating the capacity to consume where there would appear to be none. It would seem that our global society welcomes the poor as consumers, as long as they are not empowered.