12/03/2018
Harvard Business School professor Christensen (How Will You Measure Your Life?), Ojomo (a research fellow at Christensen’s research institute), and Dillon (Christensen’s coauthor on several books) propose a bold approach to ameliorating global poverty in this cogent study. They ask, “What if, instead of trying to fix the visible signs of poverty, we focused on creating lasting prosperity?” and argue that market-creating innovations are the answer to long-term economic growth. This means, for example, prioritizing a market for cellphone service over funneling aid into building water wells (that might not be sustained by a nation’s crumbling infrastructure) or attempting to stamp out corruption; they argue the former will catalyze sustained economic development. The authors thoroughly and accessibly outline the basis for their logic and the potential barriers to innovations in devastated economies, drawing on examples of successful market-creating innovations such as the Ford Model T and the more contemporary example of Tolaram, a Singaporean company that, in order to sell instant noodles in Nigeria, ended up building infrastructure there to support manufacturing and distribution. Not all readers will find the emphasis on economic development over other goods morally appealing, but this book upends the typical ways of thinking and talking about poverty in developing countries. (Jan.)
The Prosperity Paradox has the power to transform our thinking about philanthropy and social good. As we continue to grapple with how to lift people out of poverty, Clay Christensen, Efosa Ojomo and Karen Dillon provide a new and innovative solution for millions of people around the world. It’s a must-read for anyone with an interest in global affairs who wants to create a truly thriving society.” — Arianna Huffington, Founder & CEO, Thrive Global
“The Prosperity Paradox will fundamentally change the conversation about the role of philanthropy in development. As Christensen, Ojomo, and Dillon capture perfectly, to tackle truly important problems, we need to reset our current thinking. Market-creating innovation needs to play a critical role in enabling a path out of poverty through market-driven solutions. Most foundations do not exercise the power they have to provide catalytic capital to engage in high risk ventures that may unlock sustainable replicable and scalable game changing solutions.” — Irene Pritzker, President & Chief Executive Officer, IDP Foundation, Inc.
“Clayton Christensen’s latest book The Prosperity Paradox is a must-read. Powerful, persuasive, and wonderfully written, Christensen and his coauthors make a compelling case for the game-changing role of innovation in some of the world’s most desperate economies.” — Eric Schmidt, Former Executive Chairman of Google and Alphabet
“The Prosperity Paradox is a manifesto and a call to action for those who recognize that our survival depends on creating opportunity. This book will help innovators be more compassionate. And the compassionate be more innovative.” — Tom Fletcher, CMG, former UK Ambassador and author of The Naked Diplomat
“The Prosperity Paradox by Clayton Christensen, Efosa Ojomo, and Karen Dillon is a timely must-read on the mindset change that turns poverty into opportunity and enables the creation of sustainable prosperity. As World Bank Treasurer, I saw first-hand how the innovative approaches described in this compelling easy to read primer empowers development practitioners and businesses to seek out these profitable opportunities.” — Arunma Oteh, former World Bank Treasurer
“The rise of any economy, local or global, must be fueled by innovative entrepreneurs willing to build new markets. With The Prosperity Paradox, Christensen, Ojomo, and Dillon offer powerful insight and guidance on how we can channel our efforts to create jobs, generate growth, and impact individual lives all over the world.” — Steve Case, Chairman & CEO of Revolution and co-founder of AOL
“Prosperity Paradox is the most important business book since Peter Drucker. It will dramatically change all initiatives on development and well beyond – starting with venture capital and entrepreneurship. It is a must-read for anyone who cares about sustainable economic development.” — Eduardo Braun, Leader of the Advisory Board, Buenos Aires Innovation Park and author of People First Leadership
“The Prosperity Paradox perfectly illustrates the need for investment and support for local innovators. Christensen, Ojomo and Dillon show how real entrepreneurs have created booming businesses in low- and middle-income countries, while generating economic growth. This book is necessary for any entrepreneur who wants to create positive and lasting change, and for any government official or investor who wants a better way to spur global development.” — Matias Recchia, Co-Founder and CEO of IguanaFix
“I can’t recommend this book highly enough. Christensen, Ojomo, and Dillon deeply understand both the challenges and opportunities of innovating in unexpected places – and the satisfaction of creating a market that enables prosperity to thrive.” — Richard Leftley, Chief Executive Officer of MicroEnsure
I can’t recommend this book highly enough. Christensen, Ojomo, and Dillon deeply understand both the challenges and opportunities of innovating in unexpected places – and the satisfaction of creating a market that enables prosperity to thrive.
Prosperity Paradox is the most important business book since Peter Drucker. It will dramatically change all initiatives on development and well beyond – starting with venture capital and entrepreneurship. It is a must-read for anyone who cares about sustainable economic development.
Clayton Christensen’s latest book The Prosperity Paradox is a must-read. Powerful, persuasive, and wonderfully written, Christensen and his coauthors make a compelling case for the game-changing role of innovation in some of the world’s most desperate economies.
The Prosperity Paradox will fundamentally change the conversation about the role of philanthropy in development. As Christensen, Ojomo, and Dillon capture perfectly, to tackle truly important problems, we need to reset our current thinking. Market-creating innovation needs to play a critical role in enabling a path out of poverty through market-driven solutions. Most foundations do not exercise the power they have to provide catalytic capital to engage in high risk ventures that may unlock sustainable replicable and scalable game changing solutions.
The Prosperity Paradox perfectly illustrates the need for investment and support for local innovators. Christensen, Ojomo and Dillon show how real entrepreneurs have created booming businesses in low- and middle-income countries, while generating economic growth. This book is necessary for any entrepreneur who wants to create positive and lasting change, and for any government official or investor who wants a better way to spur global development.
The rise of any economy, local or global, must be fueled by innovative entrepreneurs willing to build new markets. With The Prosperity Paradox, Christensen, Ojomo, and Dillon offer powerful insight and guidance on how we can channel our efforts to create jobs, generate growth, and impact individual lives all over the world.
“The Prosperity Paradox by Clayton Christensen, Efosa Ojomo, and Karen Dillon is a timely must-read on the mindset change that turns poverty into opportunity and enables the creation of sustainable prosperity. As World Bank Treasurer, I saw first-hand how the innovative approaches described in this compelling easy to read primer empowers development practitioners and businesses to seek out these profitable opportunities.
The Prosperity Paradox is a manifesto and a call to action for those who recognize that our survival depends on creating opportunity. This book will help innovators be more compassionate. And the compassionate be more innovative.”
The Prosperity Paradox has the power to transform our thinking about philanthropy and social good. As we continue to grapple with how to lift people out of poverty, Clay Christensen, Efosa Ojomo and Karen Dillon provide a new and innovative solution for millions of people around the world. It’s a must-read for anyone with an interest in global affairs who wants to create a truly thriving society.
2018-10-28
Why have some nations become prosperous while others have remained poor—and in many cases poorer than half a century ago? Harvard Business School professor Christensen (The Power of Everyday Missionaries: The What and How of Sharing the Gospel, 2013, etc.) and colleagues venture some suggestive answers.
Prosperity, by the authors' account, does not mean simply relative wealth, but also access to goods such as education and health care as well as the promise of good governance and upward mobility. By these lights, readers may well wonder whether the United States counts as a prosperous nation; be that as it may, an ingredient for prosperity is the ability to see a problem and solve it by opening a market that pulls infrastructure and other social goods up with it. A case in point is Mo Ibrahim, who, 20-odd years ago, saw that in Africa, with its lack of landline infrastructure, lay the opportunity to build a vast cellphone network to serve the continent's billion people. This, writes the authors, speaks to "nonconsumption," or unattainability—"there's no affordable and accessible solution to their problem," in short—that Ibrahim saw his way through to addressing by innovating in areas such as pay-as-you-go programs rather than fixed monthly fees. No bank would touch his Celtel, which he funded with equity financing, but Ibrahim built an empire overnight that spurred other "market-creating innovation." All this is of a piece with Christensen's doctrine of disruptive innovation: Creating markets is preferable to sustaining them (the original iPhone did the former, he writes, while the iPhone X does the latter) and to making innovations in efficiency. Christensen and colleagues serve up examples from business histories (among the most winning of them the Bank of America) around the world, including Mexico, long touted as "the next potential superpower—but it's always stuck there." Their extensive notes may seem a touch daunting, but they lend a case-study aspect to a book that will be valuable to business readers.
Of considerable interest to investors in emerging economies as well as development specialists and policymakers.
