Book: A World Of Three Zeroes by Muhammad Yunus

Muhammad Yunus meets Pope in 2014

The Nobel Peace Prize laureate Muhammad Yunus has met Pope Francis on more than one occasion. According to an observer, the two men had a melding of minds as well as hearts. They share an analysis of the ways in which our greed-based economic system has contributed to growing inequality, poverty and environmental degradation. Yet, both men also remain profoundly optimistic about our capacity to change the status quo for the benefit of humankind.

Yunus's new book is like a shot of adrenaline to the disenchanted. If the morning headlines leave you disempowered and even depressed by the state of the world, then this is the book for you. Yunus takes the current economic system to task for failing the 99%, but he also proposes so many practical solutions, you will be itching to try his ideas by the time you are half way through reading his tome.

Yunus is the man who brought microcredit to his native Bangladesh, and then the world, with spectacular results. His new book explains how social business, as opposed to capitalism organised purely for a return on capital, could transform the lives of billions of people. He quotes the godfather of capitalism, Adam Smith, reminding us that the vast majority of citizens are capable of being both selfish and selfless. No one should be categorised as merely one thing: greedy and prepared to exploit our fellow creatures so we can amass vast wealth well beyond our needs. Rather, we are more complicated, getting pleasure from helping others and solving the world's problems.

Yunus explains how social business can tackle poverty, ill health, unemployment and climate change in more creative and sustainable ways than charities. He begins by rejecting the notion that we should gear our schools to produce young people seeking jobs. Instead, we must prepare them to become job creators. He believes everyone is a potential entrepreneur, given the right financial backing. He illustrates his argument with dozens of examples of social businesses that are solving problems and creating wealth at the same time, from tiny solar power arrays in a village in Uganda to a vast yogurt-producing business in India.

However, he does not mention the cultural attitudes holding back societies in which women do most of the work, with little reward, while men see themselves as too superior to do "female" jobs such as agriculture, or working in positions of service. Yet, we know Yunus is aware of this because his creation, the Grameen Bank, gives the vast majority of its loans to women. Microcredit has been transformative in helping women provide for their families, but surely it isn't enough to believe that long-ingrained attitudes will change, just because men witness women working successfully to generate extra income.

Nevertheless, Yunus's book is timely, not only because so many young people feel betrayed by the promise of capitalism, but because of where that disenchantment could lead us; building walls, turning away from democracy, and putting our faith in populist demagogues. No wonder his message seems to resonate with the Holy Father.

For more information see: www.amazon.co.uk/World-Three-Zeros-Economics-Unemployment/dp/1610397576