In Asia, the fight against poverty and hunger has been so effective because so many Asian countries have implemented capitalist reforms. In China alone— thanks to the partial introduction of private property rights and free-market economics—the proportion of people living in extreme poverty has fallen from 88% in 1981 to below 1% today.
- Sub-Saharan Africa
Emerson’s analysis challenges investors to expand their understanding of the purpose of capital and fuel a broader, deeper impact investing movement that shifts finance from harming to healing.
Giridharadas’ thesis is a compelling critique of what he calls “MarketWorld”—a set of beliefs that have overtaken our culture with the idea that “if you really want to change the world, you must rely on the techniques, resources, and personnel of capitalism,” ignoring the possibility that capitalism itself, as it is largely practiced today, might be at least one cause of the problems we are seeking to solve.