The Catholic Church, which is seeking to formulate a new economic policy under the leadership of Pope Francis, has shown interest in Nobel Laureate Muhammad Yunus’ concept of social business and his views on the role of selflessness in economy.
Yunus was invited by the Pope to attend a meeting styled “The Global Common Good: Towards A More Inclusive Economy” at the Vatican City on July 11-12.
At the meeting, Yunus highlighted his views on poverty, unemployment and state charity, explaining how a world free from these three aspects could be created through social business.
He emphasised that the present conceptual framework of capitalist economy was morally wrong and was based on very narrow interpretation of human beings.
Yunus stressed that the present global economic system was based on survival of the fittest although it should be on survival of all with dignity and friendship among all.
