CA Yunus calls for equitable economy for all

Chief Adviser Professor Muhammad Yunus today emphasized the need to build an economy where the benefits of technology and economic growth are distributed equitably among all people.

"Let us challenge one another, listen to one another, and dare to envision a new world with a sustainable lifestyle in harmony with an environmentally safe planet. We must create an economy where the rewards of technological progress and economic growth are shared fairly by everyone, not concentrated in the hands of a privileged few," he said.

Professor Yunus made these comments during the inaugural session of the 3rd 'Bay of Bengal Conversation,' hosted by the Centre for Governance Studies (CGS) at a city hotel this morning.

This year's conference, themed "A Fractured World," features over 200 speakers, 300 delegates, and an audience of 800 participants from more than 80 countries.

Reflecting on his outlook, the 2006 Nobel Peace Laureate described himself as a "compulsive optimist," expressing his strong belief in the power of ideas and imagination.

"If we can imagine together, it becomes irresistible. Let's do it," he said.

Urging all to come forward to creating a new civilisation, he said: "This civilisation has failed us. From environmental perspective alone it has turned out to be self-destructive civilisation. From economic perspective it has led to extreme accumulation of wealth."

Prof Yunus underscored the need for creating a world of three zeros - zero net carbon emission, zero wealth concentration - by introducing social business to solve the people's problems, rather than maximising profit, and zero unemployment by turning the young people into entrepreneurs, rather than jobseekers.

He also stressed the need for taking immediate and united action to protect the coastal communities from the adverse impacts of climate change, focusing on building an economy where all will be benefited.

"Our region is on the frontlines of climate change. Every year, our coastal communities face rising waters and shifting weather patterns that impact lives, homes, and livelihoods. This crisis is not something that can be put off for another day; it's something that requires our immediate and united action," he said.

About the potential of youth, the chief adviser said: "At the same time, we are a region of immense potential. Ours is country of the youth. Out of 171 million people, half the population is under the age of 27 years. This makes the country very powerful in creativity."

Prof Yunus said the youth have the power to lead the world in sustainable development and to create models of green growth protecting and promoting our environment but this requires cooperation, courage, and an unshakable belief in their shared future.

"As we debate and share our thoughts in this gathering over next few days, I encourage you to think how to build a new world, as our youth have set us on a path to create the New Bangladesh," he said.

Expressing his gratefulness to the Centre for Governance Studies for hosting this gathering, particularly at this time, when ideas and dreams can take root and grow into real solutions, he said this convention is more than just a meeting of minds; it's a testament to our shared resilience.

"Bangladesh has always been a land of dreams, hard work, and an unbreakable will. It is more so now, as the aspirations of the revolution are fresh in minds," he said.

"It's the work of millions of voices, almost the voices of the entire nation, - voices that have demanded change, voices that continue to push us all to build a future based on human rights, freedom of speech, justice, and inclusion," he added.

The chief adviser said the theme of this year's convention resonates deeply with him and they live in times marked by challenges and complexities.

"Whether it's economic disparity, social injustice, or the threat of climate change, we face issues that are overwhelming. And yet, in Bangladesh, we know something about resilience, about facing adversity and creating opportunity from it. It's a lesson I learned decades ago, working with villagers, seeing their courage, and being inspired by their strength," he said.

Prof Yunus added, "It is those experiences that taught me that every problem has a solution if we have the patience to peel it out, the courage to try, and the persistence to keep going."

Later, he formally inaugurated this year's Bay of Bengal Conversation.