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International political economy - Essay Example

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International Political Economy Name: Institution: International Political Economy The book, Building Social Business: The New Kind of Capitalism that Serves Humanities Most Pressing Needs, by Muhammad Yunus delves into the new dimension of capitalism. In the book, Yunus describes social business as a means of having individuals produce products and services that make the world a much better place…
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International political economy

Download file to see previous pages... Entrepreneurs, leading corporations, and even social activists are taking the step to show how this phenomenon is changing the lives of people across the world. This book forms the basis for this review as it tries to identify the realism of this phenomenon, and if the corporate world is entirely ready for it. The definition of social business in this book is that it is a sustainable business that guarantees return on start-up capital, but does not offer investors any return. It is the author’s belief that the current practices, for example; social enterprises and non-profit are what may lead to more poverty among countless individuals. Social business offers an owner a return on their start-up capital, regardless of the time it takes to get this capital back. According to the author, this phenomenon (social business) has stopped being just a theory that is discussed in corporate boardrooms, and is being introduced in some areas in Asia, the U.S., and even Europe. By introducing, embracing, and trying the social business theory, the author develops an idea about a new form of capitalism that is opposed to some current methods and practices present in most organizations (Yunus 2011, p. 103). Products offered by social businesses may rake in profit, but do not offer dividends (Yunus 2011, p. 229). They are also capable of satisfying the needs of the less wealthy individuals in society. All profits gained have to go back to the society in which the business is located. According to the author, the case studies are a way of showing individuals that it is possible to incorporate this in the economic world and find a way to provide everyone with their needs. This is while reducing the pressure of money among the less privileged. Something worth noting about the author is that he is the founder of the micro-credit agency, Grameen Bank. It offers services (financial) at an affordable rate of interest. The author’s economic stand is brought out in the book as it struggles to change the perception that establishments can only belong to one of two economic camps, which are; non-profit and for-profit. However, the book might fail to address some crucial elements that surround the progress of the theory of social business. Some of the issues brought out in the book offer advice on what might be the best possible way for people to start their own businesses (Bari 2011, p. 78). This is not geared toward encouraging the growth of the phenomenon in most corporate structures in the business world. A great idea might lie behind the author’s intention of getting people to know what needs to be done to start and run a successful business. Sadly, it does not delve into advising would-be business owners on what needs to be done to exactly capture all the latest trends in the economic world. The ends of the first chapters in the book talk more of the steps in the development of the Grameen. This, according to me, makes the chapters seem lacklustre in their presentation. The didactic aspect of the book leaves no room for the profit and social business aspects that most readers may want to attain at the end of the book. It is next to impossible to attain a clear perspective on the part profit aspect of a ...Download file to see next pagesRead More
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