Nobel Peace Laureate Professor Muhammad Yunus was invited by Pope Francis to attend a special meeting of global thinkers organized by the Vatican on “The Global Common Good: Towards A More Inclusive Economy”. The meeting was held at Vatican City from 11-12 July, 2014.
He drew attention to the twin insanity of nuclear weapons with the potential to destroy the world many times over, virtually at the press of a single button and the insanity of our economic system that is concentrating all the wealth in just a few hands. He discussed how the capitalist system needs to be overhauled urgently to address the flawed economic system. He elaborated the role of social business in the redesigned economic system. He highlighted the goals of three zeroes, zero poverty, zero unemployment and zero net carbon emissions to steer the world away from this insanity.
He also added the dangers of the rise of artificial intelligence. He said that it would result in the loss of millions of jobs. This will have devastating effect in the lives of millions of families around the world. People are by nature entrepreneurs, not job -seekers. Economic theory has directed human being in the wrong direction, but if we were entrepreneurs artificial intelligence could not have destroyed our lives. AI should be used to empower people to become entrepreneurs rather than help big businesses to make mega profit. He also recommended there should be a regulatory body to allow only the human-friendly technology to operate in the society, stopping the technology which is harmful for human kind, in the same way that there are regulators for the pharmaceutical industry, that block harmful medicines.