FYS 179 Leveraging Social Entrepreneurship to Alleviate Poverty and Unfreedoms
Market-based social entrepreneurship as an approach to addressing poverty, unfreedoms and the lack of localized agency among the poor in economic development has seen a rise in prominence. This is often attributed to the failures of national governments, multi-lateral agencies, and conventional philanthropy to respond dynamically to the challenges posed by changing global and technology landscapes. These failures also reflect a reliance on an outmoded development paradigm that is both inattentive and unresponsive to the modern needs of income poor people to be primary owners of their development experiences, a possibility made more realistic because of globalization and technological change. In essence, as first noted by Adam Smith and reported in Amarta Sen, freedom of exchange and transaction is in itself part and parcel of the basic liberties that people have to celebrate, and as Sen himself points out, "the freedom to participate in economic interchange has a basic role in social living."