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BREXIT, Trump, Walls Can’t Protect Jobs: Nobel Laureate Yunus

BREXIT and Trump’s election are knee-jerk reaction from the fear that the jobs may go to someone else, said Microfinance pioneer, Nobel laureate and Grameen Bank founder Muhammad Yunus.

Speaking at the the Indian Institute of of Science on Monday on theme "The zero effects of social business", he said erecting walls may not end the problem as machines may replace all routine and complex jobs anyway in the near future. What humanity needs to produce is not the job-seeking youth but job-creating entrepreneures, he said.

He reiterated that human beings were meant to be entrepreneurs and not job seekers, and countries like India and Bangladesh need a business system that can solve the problems of humanity and not merely profit-making.

"When youngsters come to me saying they need jobs, I urge them to generate jobs. Human beings were never intended to be job seekers, but to use their creativity to find solutions to problems," he said.

With automation and artificial intelligence making any profession redundant, it is essential to make the youth from the job-seeking mindset and drive them to more entrepreneurial ventures to solve humanity’s enormous problems.

At the same time, profit-making should not be the goal but making others lead a happy life is more imposrtant, he said bringing forth his latest concept of social business.

"What is needed is social businesses that leverage technology to solve these humanity’s problems. The money-makers of the world will not do it,” he reminded the audience at the IISc.

Of late, Prof. Yunus is keen to create a social business model in the world. For instance, in Bangladesh he is encouraging new restaurants for common people providing good, healthy food at affordable prices so that people don’t have to opt for unhealthy and unhygienic food.

Prof. Yunus was in Bangalore as Chief Guest to open Ujjivan’s Small Finance Bank branches on Monday.

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