You can watch this and other programs online apple tv. Org. Buch tv. Org. Good evening. Good evening. My name is paul horton life from the New York Public Library and im delighted to welcome all of you tonight. Last week we have the great pleasure of welcoming a guest to this cover the case the guests. It will include late in the season in december as conversation. It was so regretful that he cannot state his unit he thought he believed that it was changing the world. Im thrilled to welcome the 2006 Nobel Peace Prize winner and the author of the world of three zeros. The new economic zero poverty. A book that he will sign after his conversation. Im thrilled to welcome him back to the stage. Its the third time last time he spoke was in 2009. In a conversation moderated by charlie rose. It is always a pleasure to welcome him back. I dont know why i pause there. But somehow i just could not believe that that happened. But it did. And here we are. Indeed here we are. Tonight i would like to thank andrea young and Whitney Keeling who both helped so very much to make this evening happen. I like to thank them for their support for live from the New York Public Library. Im very grateful to them. Now many of you know that for the last seven or eight years its very modern and interestingly enough two words sometimes i get eight words micro finance and social business. In the case of Jeffrey Sexton i got seven words teacher researcher advisor and advocate please welcome them both. [applause]. Thank you. [applause]. Now we had proof that there is progress. 2007 Newt Gingrich 2017. Thats good. I would call it from the ridiculous to the sublime and i am very excited to be with you and very thrilled to talk about your new book. We Work Together last week. We are both sustainable goal advocates. Were both in that business as well. Begging for some attention to this. Youve written a book called a world of three zeros i thought it was about u. S. Politics at first but it is far more uplifting thats for sure its a wonderful book the new economics of zero policy zero unemployment and zero net carbon admissions. Okay, how do we do it. Get a glimpse. Noah spoilers basically i raise the question of will concentration and the way it is expanding and it has been more conservative more and more. The concentration of wealth. Many people are not aware that its getting bigger and bigger and smaller and smaller number of people. It is a different kind of wealth. They dont call economy anymore. Its a plundering. In the past in our textbooks we talked about the champagne class a small percentage of people. And then stem for the rest of the world. Even the champagne glass. It is basically quickly. The huge mushroom and controlled by fewer and fewer people. And the sum that comes out of the mushroom is the 99 and half people there. So this is the kind of unacceptable and very destructive way to be built. It is continuously getting expanded. This is were of a sort of a ticking time bomb society cannot continue like that. The pent up anger at the bottom. Some will explode. And you will see an politics and the social relationships with people in the daily life of the people and so on. I was shocked by the brexit. Almost like that kind of thing happening that we dont want anybody from east europe to get in. Theyre taking her income our income in our jobs. Their complaint with the people at the bottom. They dont know whether they are struggling for losing jobs. They are blaming outsiders as if they are responsible. That is what the reason is. In the solution is lets get out of the european union. They are not touching the real subject. And that friction became reality. It is an unheard of situation where one should be getting together and now say and now they are getting isolated. To distinguish that. That will come inside of their own country. They will be looking for that. Until you touch on the real subject. The economic machine that was built is the one that is just sucking up everything. The machine is being what it is designed for. So thats what it was. I was looking what are the ways to solve that problem. Who will be texting them. When you control all of that wealth you control all of the power also. Its not just an isolated innocent thing. With all of the poverty. You can come to politics and the government. You can take the government to text you. You will make sure hundred one ways to explain that. And here we have a cabinet filled with billionaires planning their next tax cutting. It is kind of a depressing situation. They have gone to some experience and give me some kind of feeling that this could be addressed in another way. I looked for an explanation of the basic feature that destroys all of this in the real world as an observation of human being and economic guilt. Assumed that they are driven by selfishness. And everything is built on the selfinterest. They also have a broader interest may be called selfish interests. To add to that. If we think that they present both of these interests. And thats what they will present. Since it presents one interest became more and more aggressive and it turns into greed in the name of capitalism. Thats what i was saying to bring them into the marketplace and say we can create this to solve problems. Simply in order to solve the problem i started creating this. And they have a common feature. None of them have i created to make money for me or anyone else. Its all focused on problem solving. That might be the escape route for the selfless part of the human being. If we only allow the selfless part to come into the marketplace. The next point i was saved again came from my own experience we have given loans to other businesses. Now we had 9 million of them in bangladesh with millions and millions of them. And then we see their children of the families we help them to go to school and get education and a good education. In the get frustrated. What is a solution for that. Why are you looking for a job. You should tell yourself im not a job seeker i am a job creator. And i said look at your mother if nine men alone our illiterate women can start a business with loans of 30. 40 why does all is all of his education and knowledge you want to work for someone else. What are when you just go back to your motherland. Ask the young people to come with Business Ideas. Go and going talk to your mother. She will tell you anyway. She is the inhouse expert matter what she does it you can make it ten times bigger than what it was. You have the education. So now thousands of young people are coming. They did into runways. And then second one was the misdirecting of human beings. They are not born in this planet to work for anybody. We are gogetters. We are we never sent job applications when were there. From gate number five to gate number ten that is what history is. This element i was saying if you put this into the picture suddenly the question does not look as potent as it does right now. And create a world of that. With the problem of unemployment. Unemployment is a long word to begin with. If youre not looking for employment thats what we get that for. The question does not exist. And somehow years later with to get to the third zero. It is the one with the admission. Of course it is a huge problem. Its not just a big company that has to do that. The individuals in the daily life. We buy things. By that. I will stay out of it. And then there is the other stuff. I will start doing that. My children will start learning in the classrooms. I want to make a life for myself in a way it doesnt have any other life. Someone else in the country. It is been washed away with the floods and becoming unlivable. We talk about the climate. Is not possible for you to live with the water coming into your land. We can do that. And also at the same time we can create a number of social businesses. Simultaneously what we have the big businesses. And we did that in bangladesh. We created the social business what a simple idea we get the business and we start selling solar home system. The money that you send spend on kerosene every month get that to us. We have no more than 2 million homes already. And its growing. We became the Largest Energy system in the whole world. It is done in a way to recover the cost. Your only pain anyway. This is one way with other things that you can do. The cooking stove. As a social business. It is the nature right now in every country you go. Is different. Only 2 of forests left in haiti. It will be added there. Twenty years there are still 25 percent of the forest in there. Building the hole for us. It might not bring you tons of money right away. If you are not existing in that. You will exist in the solving part of it. They can become feasible and you mentioned that you take off that with dollar signs. You only see whatever you make money. What are the perspective that you want to do. When you talk to these wall street folks im sure some here i went to a Hedge Fund Conference that i found to be amazing in this mindset issue because there was a very clever money manager on the stage and he was discussing how his portfolio works and he was talking about Foreign Policy in crisis between in this country in that country and for me i was getting into the story and thinking how do we get the diplomats there. His conclusion must therefore it was absolutely necessary and by the end. And no matter what the story was a came down to that. And it takes a certain kind of genius like that unbelievable actually. I cant do it. It really is a problem. So you mentioned that you have a Venture Capital fund selflessness and economics it sounds like a wonderful idea but it reminds me a little bit of the very famous line of gandhi when he was asked what he think of western civilization. And he said it would be a good idea. And what do you think the selfless economics would be. Whos can do it. How would Something Like this work you the ventral adVenture Capital fund. I beg for a living so im happy to bag always should we be begging or is there a Systems Approach that you think how that Something Like this not only take off because it clearly you started a lot of social businesses and we meet people all of the time and one of my colleagues with whom i work we meet people who want to do wonderful things but its not simple to actually find the resources and my wife we beg for Community Health workers and people are just able to say now even when you tell them its saving lives in crucial and so forth. How to do it. This is in the book. Looking for the answer. When theyre talking about the social business if youre not making money why should anybody do that. Its because the only thing you ever heard is the mind about money. You dont understand anything else. If you can take off those classes you will start feeling another kind of thing. Wow. Good evening. The making money and happiness that we all had experience with that. Making other people happy is good as well. It will come from you. You have to go and in bag or anything. Im not asking for you to come and help and move on with your life. You will be changing yourself insane something is one thing but actually feeling and seen it seeing it as something else. The funny thing is when big business started paying attention to us maybe this is in. Something happened. Will start making money. Generally they did not do not want to do that. The first one was the one we created. Its a wonderful project. The children in bangladesh. It is just not alone in that. In that proportion halfandhalf. So they are looking for what problem that they can sell. Weve got too many options and then finally focus on that. Because it comes easy to them. To create a special kind of view. In create that company we waited especially for it. How do you do that. You put all of the micronutrients into this and make it cheap you will find many ways you can make it cheap. If you want to make money you start adding that. So that they would be asked to pay a higher price. We created that. And now we still want to make it cheaper than what the cost of production is. We did as much as we could. But then we have the marketing strategy. It is in the city and through the supermarket and the market price that they pay. And we make a lot of money on that. And you didnt use this money when we do that. Sell it with the cost of production. And we hired the women in the villages to sell this doortodoor because poor people dont go to the grocery shop. Now that that is happening. This is one. That is a good model. The other country it became soup and fortified soup. They provide the soup. And the other country in columbia the sugarcane based drink. When you use this idea and make it fortified vanilla and then sell in schools in the School Authority would be buying this. Anyway. It doesnt cost much. You are using this as a technique this is a social business idea. It is a french fry company. A canadian company. It is a family owned company. They became very interested in the idea of social business. What can we do. I did not know much about it. What if you eat french fry. And then you get there. 60 of the french freight market we cover in the whole world. We worked with them to create the social business in columbia to have more than they would need. I got into their head now they start seeing the social business opportunity. They had been in this business for many years. And then they came to me and 26 . 6 cannot be picked up on the ground. In 20 because we dont buy any other french freight company. If we dont buy it we cannot sell. Now that we have the social interests of people. We decided to create a new social business to create a small instance and higher that. Use it to make potato soup. Stomach 30 of them. They did not look to be in good shape. In the cucumber no one will buy it. I hate that kind of thing. I wouldnt touch it. In their own business imagine that. If you want to put it there. The vegetable has to be in the right formation. Thats how consumers like it. It is very interesting and i think the point you made that i want to underscore you were able to make something very cheap because it wasnt looking for profit. In most of our textbooks it says the opposite. We are running crazy experiment. Unlike the Healthcare Systems all of the other highend come world ours is based on private motive. We have the most Expensive Health care system in the world. The same exact services delivered we are paying thousands of dollars per person more per year. All we have to do is look at how it was done elsewhere. Its a noncommercial basis. And here of course it is run on the market working better. Is definitely a part of it if you have the capacity to exploit market power. They just started buying all of those. In the new company. When you took up vegetables you dont know the shape. There is no way you can hate them anymore. Not only on how to cook soup and again about all digging about all of the missing opportunities. It is enormous just because they dont sell in the market. Now this is the two cases. We have started the Small Program to give that. Never work in this country. In five years we created many others. All over the united and many other cities. Today we head over a hundred thousand borrowers. Nearly 1 billion. And all of the branches are established. The thing that we tried to do is with healthcare. Even after obama care. They are disconnected. We said we have to provide it because the system is not caring for that. Everybody chips in. And they take care of each other. And have a whole system in place if it comes as a sustainable letter full. If you bring a new technology. The commercial cell phone is there. You get all of the health care possible. And it can be delivered at home. With the intelligence to remove people from the work. And they serve in the Healthcare Program you dont need any of that. What the question of the mind. What direction are you looking at. Realizing that i can bring all my Creative Power to sell all of his problems. Thats why i kept it as possible. With the unemployment admission. I do not know anything about that. I was asking who are you because im not familiar with this. When mccain came i asked what kind of business you do. 55 percent of the french right we supply to the world. So those companies came out of this. Many more indian people are coming with Business Ideas to solve problems. Initially it is a small one but it can grow now. It discovers its own costs. The question is now all of the problems they sell. You are seen a kind of ecology where the normal business sector continues this new business section there goes alongside it sometimes living there. And also a way to detain the evil side of this. It is a very interesting case that you are talking about and a lot of the businesses had no idea what is needed, why there are problems i went to the notforprofit i wont mention who will wear but one of the big chains of Healthcare Providers to the cfo and talked about a way to address the very poor people in the environment with this mega hospital complex and they said we are not interested in this category. We lose 3 cents per medicaid. We are not interested in building up that line of business. In the neighborhood. You bring the technology and the creativity. All of these programs can be handled in a much different way than they now do. How to make more money for the shareholders and so forth. I said you run your business to teach young people to make the shareholders with more money. So that they can plan how to create business. You started some of those centers. And i am protected by one of the leading universities in the country here. With the kind of things they are teaching them. This is a business call. Just looking for ways on how to change it. This is something that would like to do. I can do i can get a job and serve the company live so much power with the technology in their hand. They can do anything they want as big as they want that their job does not allow them to do that. Mercenaries for the western culture. With all of the options on the table. The way i am seen. Why do i say that i had been seen seeing it again and again all of the women to join millions of them all over the world they are not looking for jobs they just want to start a business. In each of these. Familiar with the Business