India Uncut

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Thursday, September 01, 2005

Wealth creation, not wealth substitution

CK Prahalad writes in the Wall Street Journal:
To “make poverty history,” leaders in private, public and civil-society organizations need to embrace entrepreneurship and innovation as antidotes to poverty. Wealth-substitution through aid must give way to wealth-creation through entrepreneurship.
Read the full piece here if you are a subscriber to the WSJ; if not, I've quoted a couple of more extracts on The Indian Economy Blog that illustrate what Prahalad is talking about.

(Link via reader Anuj Tiku.)
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