This is the Safari online edition of the printed book.

Read the following excerpt from Private Sector and Poverty: Progress at the Bottom of the Pyramid During 2004-2009.

Five years is not a long time to evaluate the diffusion of an idea; much less its impact on the ground. It has been less than five years since the book The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits was published. The first article on the subject appeared in 2002. At the time, the proposition that the private sector had a critical role to play in alleviating global poverty was generally met with skepticism. The idea that they could have the greatest impact through creating profitable businesses serving the 5 billion people who represented the “invisible, unserved market” was even more radical. I am profoundly grateful for the people in government, nongovernmental organizations, and large corporations who were willing to listen and experiment. The poor, of course, have long been hungry for change. Their enthusiasm and insights have been a huge inspiration to me.

We are a long way from solving the problem of global poverty. But I find reason to be optimistic that the conditions for creating significant and sustainable change are emerging rapidly. First, the idea that the private sector can and should be involved in creating market-based solutions for the world’s poorest consumers is gaining credibility. The market success of some multinationals that have taken up the challenge has created momentum. Respected business leaders such as Bill Gates championing the cause of creative capitalism has also contributed to a shift in perception.

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