Known as five from the new york public library. Im delighted to welcome you. Last week we had the great pleasure to discuss the state stateoftheart tick and programs including late of the season in december of conversation with naomi klein. That he believed the change in polluter world. They happen to know each other well. Im thrilled to welcome the 2006 Nobel Peace Prize winner, Mohammad Yunus and the author of the world of three zeros, the new economics of zero poverty, zero unemployment, and zero carbon emissions. The book you assign after his conversation with Jeffrey Sachs. Im also thrilled to welcome jeffrey back to the stage. Last time he spoke was in 2009 with a conversation moderate her by charlie rose. In 2007 he spoke for the first time here with newt gingrich. Its always a pleasure to welcome him back. I dont know why applause there. But somehow i cannot quite believe that did in fact happen, but commented. Here we are. Tonight, i like to thank andrea and whitney who helped to make this evening happen. As always, my gratitude for the generation of the support of life from the new york public libraries, im dearly grateful. Many of you know for the last several years of us might guess to give me a biography of themselves in seven words. Interestingly sometimes i get two words, sometimes a tour 11, even at times i get seven words. In the case of Mohammad Yunus i got three words. Micro finance and social business. In the case of Jeffrey Sachs i got seven words. Teacher, researcher, advisor, advocate, beggar for its dg. Please welcome them both. [applause] [applause] now, we have proof there is progress. 2007, newt gingrich, 2070, Mohammad Yunus. [applause] from a ridiculous to the sublime. Im very excited to be with you and thrilled to talk about your new book, we were together last week at the united nations, both sustainable advocates we are both in that business as well begging for some attention to this. Your friend a book called the world of three zeros. I thought it was a book about u. S. Politics at first. But it is far more uplifting. The new economics of zero poverty, zero unemployment, and zero and carbon emissions. How do we do it . Give a glimpse. Basically its the question the way workers be more concentrated more and more. There is a concentration of wealth but many people are not aware that is getting bigger and bigger for a smaller number people. Its worrisome because it creates a ridiculous kind of world. You can call it an economy anymore. In the past in our textbooks and so on we talked about the champagne class theres so much of wealth first such a small percentage of people. And i feel like it doesnt really even fit into the picture is basically a growing thing. Its like a huge mushroom getting more huge and controlled by fewer pure people. The stem that comes out so this is not acceptable way and distractible way the worry thing is that mushroom is continuously getting bigger. This is sort of a ticking time bomb. They cannot continue like that. The pentup anger at the bottom some will explode and youll see the politics and social relationships with people, youll see it in the daily life of people, and really i was shocked by the brexit, almost like that kind of thing happening say we dont want anyone from Eastern Europe to commit. Theyre taking our income in our jobs, people at the bottom are complete because they dont know that they are struggling, losing jobs. The blaming outsiders. Theyre not looking at the real subject, that created brexit with unheard of situation where they should be getting together and today there islands distinguishing from other european countries. Although be inside. Until the real subject which is the economic machine that you build the language sucking up everything in its passing on fewer and fewer to people. So looking for what are the ways to solve that problem. So talking about distributing to the poor who would be texting them because when you control all the wealth you can troll the power to. Its a concentration of all of the power. So you control the power from the government. So youre asking government and you will make sure that there are 101 ways to explain that. And here we have a cabinet filled with billionaires planning their next tax cut. So that is kind of depressing situation. Luckily years the missing perception of human beings. Also the selfless interest, selfish interest. If you think human beings present both disinterest than the economic world so sensitive presents when it became more and more significant. And it turns into greed. It turns into avoiding all the other. So i would say bring in this senseless interest into the marketplace and say that we could do this to solve problems. Simply to solve problems in the common feature, none of them met have created to make money for me or anyone else. Well see more more of them and then we can start solving problem only social business, getting came from my own experience. Now we have 9 million in bangladesh then we see their children we help them to go to school get an education though i dont have a job what you do, what is the solution. Then they started say why are you looking for a job, im not a job seeker, job creator. The syndicate your mother, if 9 million illiterate women can start a business with lots of 30 or 40, while these education and all this knowledge you want to wait for somebody else, why dont you just go back to your mother to learn from her. So now we create this and asking people to come with Business Ideas. If you dont have Business Ideas going talk to your mother. She is the inhouse expert to tell you you can make it ten or 50 times bigger because she didnt have that capacity. Some of these young people are coming. And then the second one is directing human beings. Said human beings are not born to work think that the born to be a Problem Solver we are hunters and gatherers, this is her history. We did send job applications when were in the caves. So i said thats her history. If you put this into the picture, suddenly the question doesnt look as it does now and create a world of completely different all the problems that you see with poverty and unemployment. Unemployment is its own work to begin. If youre not looking for unemployment there is no unemployment. Someday years later when three zeros or publish. We have to get to the third zero. They talk about the huge problem, course its a huge problem. Its not just Big Companies to do it they have to do it. The pc will buy things which are greed like file my own choice i can buy this or if youre not quite sure what theyve done i would stay out of it. [inaudible] i want to make a life for myself in a way, doesnt have any other life. So im okay but someone in some other country like bangladesh could be washed away with the feds and so on and talking about their Climate Strategy and its not possible to see what they were so we can do that. Also the same time we can see it in a number of social businesses and justifications. The same time they do that in bangladesh to simply be a, we create a business and start selling we tell the villagers whatever money spent every month, give that money to us. Several years back we became the Largest Energy system in the world because nobody else is doing it. So it is done in a way that it makes sense to people is really paying for the kerosene. The theres other things that you can do, every country it grows. Only 2 of force are left in haiti, this 2 will disappear in the future. Twenty years or 25 years 25 of the force there. It may not bring money right away, but you are not insistent it can be done in a sustainable way. This if you take off your glasses with dollar signs than he can see the world. The moment you put it on or take it off you see enormous opportunity to sell problems. You reminded me when he talked to these wall street folks, im sure theres some here, i went to a Hedge Fund Conference that i found to be amazing in this mindset issue because there is a clever money manager on stage discussing how his portfolio works. He was talking about Foreign Policy in crisis between this country and that country. For me i was getting into the this story and wondered how we would get the diplomats there and maybe it would be a crisis and he said therefore its absolutely necessary to short the and no matter what it came down to dollars. And it takes a certain kind of genius like that. On an economist, you cant to that. So, you mentioned that you have a Venture Capital fund for social business, how does that work, puts money in . How do Something Like this get started . This sounds like a wonderful idea but it reminds me a little bit of the very famous line of gandhi when he was asked what do you think of western civilization and he said, it would be a good idea. So, when you think of selfless economics, be nice, but who is going to do it . How would Something Like this work . Is this, i beg for a living so im happy to beg always, should we be begging nor is there a systems approach, how could Something Like this not only take off because clearly you started a lot of social businesses and we meet people all the time who want to do wonderful things, but it is not often not simple to find the resources my wife, sonja we beg for Community Health workers and people are able to say no even though when you tell them is saving lives and crucial. So how to do it . This is another part of the book, looking for the answer, when theyre talking about the social business nobodys interest if youre not making money, i said well, its because the only thing ever heard was making money your mine is about making money, you dont understand anything else, but if you take off those classes then you can see there is another thing. Making money and is making other people happy, if you see that it will come to you, im not asking for you to come and help them move on with your life, saying youd be changing yourself saying something is one thing when big businesses are paying attention they get suspicious, maybe something will happen. What did i do wrong . Is a wonderful problem. Theyre not alone and that in any country youll see that proportion of halfandhalf. We are looking for what problem we have gone through many options. Live finally the ideas to create a special kind of deal and create the company but in order to solve the problem how do you do that . You put all the micronutrients. [inaudible] to make money to start at a many frills so that people can be attracted to that, and asked to pay a higher price. So we created that and we still want to reduce the cost of production we did as much as we could. But the Marketing Strategies in the cities of the supermarket the work it price, and we make a lot of money at that. The we would use this money so as the cost of production and we would engage the women in the villages to go door to door. So that it would become very popular. Thats one model but it led to many other things. Other countries became like soup. Like middle school food they provide the soup another country in columbia libido is a sugar cream based drink sugarcane is sweet so why dont we use this idea, make it fortified vanilla and the servant in schools and children try to drink they would be drinking this water. Anyway, so this is the fortified vanilla that doesnt cost much. Were using this is a technique so this is a social business idea. Many like a fry company i did not know much about this it seems to me that whatever if you eat french right anywhere the world 60 of the french try market so we work with them to create the social business to make the farmers produce more for the International Market and so so on but it got into their head the students in the social Business Opportunity they been in this business but have not seen this before. Then they came and said that, only 60 emissions dont pick them up. And then 20 because we dont want any other french right to buy because theyre the right shape. If we dont buy them we cannot sell. Now that their social business interest in people you helping people with good food. So we decided a new social business to pick up the potato that was left behind and hire you people in france to run the business and use the potato to make potato soup. 40 of the vegetables that grover europe for the simple reason they do not look to be in good shape. The shape is very important. If the cucumbers lab said nobody will buy. They said well if you want to go in the supermarket your vegetable has to be and this formation. Thats how consumers like it. Its very interesting and i think the point you made that i want underscore youre able to make something very cheap because i wasnt looking for profit. And most of the textbook it is the opposite says it drives on the cost of competition. Were running a crazy experiment in this country which is unlike the Healthcare Systems in the highincome world, ours is based on private motor. I will have the most Expensive Health care system in the world we are paying thousands of dollars per person more. Whats crazy because all we have to do is look at how its done elsewhere. Lets run on a noncommercial basis because its a public good and service. And here is run on having to make the market work better. Every time we do that the price goes up 1000 times so the mindset is a part of it the power to exploit market. So then i started buying all the goods and services in this new company and they chop it up. When you chop up the vegetables you another shape. Theres no way you can hit them anymore. I hope everybody is taking notes, not only on how to cook soup but thinking about it. This is enormous so now this is the potato and vegetables. And about your Health Care May have more program in new york city they said it would never work in this country, it worked beautifully, started in 2008. We created many other branches new york city and other cities. Today we have over 100,000 women who received almost 1 billion alone so, to know that this is happening in all the branches finally these people with healthcare. So 70 have to provide it because the system is not caring for that so now we have a new business Healthcare System and everybody chips in and takes care of each other. If we had it with every microcredit branch we would have the Healthcare Program. Theres no reason. Today healthcare could be provided. But the commercial doesnt make it help it. Yourself on to become a source of your Healthcare Program for watauga about Artificial Intelligence, if you put Artificial Intelligence to serve the Healthcare Program you dont need any of those others. Its a question of your mind, which direction are we looking at. If you refocus your mind looking at this and realizing i can bring all of this power to solve all this problem, ours problems would be solved. Thats why i said its possible to have this world so and i explain its not something to convince. I was asking who are you because i am not familiar when i ask what kind of business you do the returning to like french try said yes i like french for they say 50 of the french right we supply into the world. So those companies came a young people coming with Business Ideas initially us small one but then it can grow. You are saying that kind of ecology were the normal business sector continues, this new social business sector lives alongside it, and its also your say a way to change the evil side the money only corporate world. Because they could get involved also because its a very interesting set of cases youre talking about, a lot of businesses have no idea what is needed, why their problems. Even a notforprofit, one of the big chains of Health Providers to the cfo and talked about a way to address the very poor people in this hospital complex and they said were not interested in that category. There are those 3 cents per medicaid patient, were not really interested in building up that line of business. But thats a hospital in the neighborhood. So all these problems can be handled in a much different way. Determine how to make more money they say you have a Business School to teach people to serve these companies why dont you so they know how to create business to solve the problem and youve created some of those. Yes i have one of the leading cities in the countrys who started this theyre looking for ways how to change it. So young people come with the frustrations of lacey theres no into this. I can do is get a job and serve the country and get a good salary and carson so on, that they have so much power with the technology in their hand they can do anything they wanted the job doesnt allow them to do that. Because im helping you to become richer than you were yesterday. So i said our judicial system has to be redesigned so i could be an employee of a company or an office, ive been seeing it again and again. Theyre not looking for jobs, if this familiar with the Business World disco in the neighborhood of three women who never had the idea so what are we doing on the school . This is an option what option do you want to take. So people are looking for this. Im there have been social business competition see dont need to have the money first. Many people say did you vest with the money comes. Could be a simple story but a powerful story to make. We looked at this company back in 2005 and all the legal formalities done and then we put our halfmillion dollar in the bank account. We had such a big company for half a million, we waited and waited so i started calling and writing them letters. They said we have some time. So investment in this Company Shareholders give you the money to make more money so will be violating the shareholders but they came out with a brilliant solutio