Question 1. What is Creative Capitalism?

Answer : Creative Capitalism is a term popularized by American entrepreneur and Microsoft chairman Bill Gates at the 2008 World Economic Forum in Davos, Switzerland. The ideology calls for a new form of capitalism that works both to generate profits and solve the world’s inequities, using market forces to better address the needs of the poor. According to Gates, 'disparities between the rich and the poor are greater today than ever'. Gates' idea of creative capitalism combines the "two great focuses of human nature -- self-interest and caring for others," he stated. By keeping business acumen in mind, the world's corporations can discover new, innovative ways to solve major problems for one billion of the world's poorest people, who don't get enough food or don't have drinking water or reliable access to medication, which the rest of us take for granted, he said.

Question 2: What are the benefits of Creative Capitalism?

Answer: There are enormous benefits for Creative Capitalism as it has a vision for the welfare of the people and acknowledgement of the Society.First and foremost, directing collective talents of North America, Europe, and parts of Asia toward the emerging world could help improve the lives of billions of people mired in dire poverty. It's sounds a bit redundant to mention, but there it is.

But there's also a personal benefit, too. Working on ways to alleviate problems--if the dozens of people I've met who've worked in Africa or Latin America are any indication--is far more rewarding and interesting than six months trying to refresh the marketing campaign for a handheld. Look back at your own life. Chances are, some of your most vivid memories come from brief periods where you found yourself in unusual circumstances tackling something monumental.

Question 3: Is there a difference between Creative Capitalism and CSR?

Answer: Yes, CSR is the responsiblity of the organization towards the society involuntarily and not for the benefit for the company, whereas Creative Capitalism is also the responsiblity towards the society in consideration with the profits of the company.

Question 4: Isn't the government's responsiblity to provide “Public Goods” and “Social Welfare” ? So why should Capitalists provide?

Answer: Yes, There are certain factors which are to be considered when we talk about the Government intervention to the responsiblities which are not so prevalent enough hence encouraging the Capitalists in a way could help accelarate the responsiblities by having better prospects for the company as well.While Gates has faith in technological advances to heal the pain of world poverty, the long-term answer really lies in shifting human consciousness, and on the capitalist front, broadly affecting behavior at the corporate level. As he continues to promote progress, Bill Gates should adjust his challenge to include such paradigm shift in consciousness over the longer time horizon.

Question 5: Will Creative Capitalism wipe out the role of Government then?

Answer: Rather than the government what is imporatant and can be applicable is we need more (and more innovative) social enterprises and I really want to see a top tier MBA programs with specialization in Social Enterprises. Call it B-school needs S-school. There are so many problems out there and sometimes we feel we are almost giving up. Our capitalist system is not adjusting well to these shocks. It is almost pointless for these endless debates on how things got to this point and who is to blame. The point remains: We've got to change it—and change it fast – and change it for the better.The last thing we want to replace these problems with a set of newer problems, I’ve seen in many case when smart people think they have a solution, but they are simply migrating the problems. There is hope. The good surprise is that business—the same institutions that bear a fair amount of the responsibility for the current situation—is also the most potent force for bringing change. No government alone can make that happen. Businesses are powerful, if we can align the forces. There are hundreds of social enterprises are doing exactly that.

Hence, Creative Capitalism + Social Innovation = New Social Enterprises That Make Money And Change The World.

-- Pratik 

Source: Wikipedia, Bill  Gates