Rethinking Friedman: Imagining a More Inclusive Capitalism

“think of d.light, a company started in 2007 to bring off-grid solar electricity to 1.5 billion people who lived in the dark after sunset. That level of energy poverty resulted in leaving a huge swath of people without the fundamental building block to create real change in their lives. Imagine the limitations of your prospects if you lacked the power of electricity.

Two young entrepreneurs — Sam Goldman and Ned Tozun — set out to change that. They understood that making markets work for the poor takes time. More importantly, it would take moral imagination. Only by understanding the poor as customers and building solutions from their perspectives could there be a chance of success. d.light had investors — Acumen was amongst the earliest — but we all understood their priority was serving low-income people in broken markets. Financial returns to shareholders would have to wait — more than a decade, as it turned out. But think of what those returns generated in terms of human energy unleashed: jobs, productivity, human connection, better health and a cleaner, more sustainable environment.”

Rethinking Friedman: Imagining a More Inclusive Capitalism
https://jnovogratz.medium.com/rethinking-friedman-imagining-a-more-inclusive-capitalism-60ab1e43f8d7
via Instapaper