Start by watching this video by the GatesFoundation.
Bill Gates and his wife Melinda, on behalf of the “Bill and Melinda Gates Foundation” (BMGF) are sponsoring a team or researches to reinvent the toilet. As mentioned on the video, 2.6 billion people are without proper sanitary toilet. The Asian Institue of Technology (AIT) was given $5 million to fund the research and development for the new toilets, which will span a period of five years. Their design and price will be market-led which means that they will base the product’s features and price on what consumers need.
The BMFG Logo
From the topic discussed, we can see that Bill Gates, founder of microsoft and now chairman, is not just profit driven, but cares about externalities. Having a chairman care about the social cost instead of just profits is really important especially in today’s modern world. Resources are being more and more scarce. Consumers are getting more and more concerned about sustaining their resources, and so are the governments. As a results, regulations are put into place. If a business doesn’t follow the regulations, consumers will be mad and this will lead to lobbying. They may boycott the business until it is gone or the government, for the well being of the society, will regulate bias against the business until it is impossible to operate.
SOURCES:
http://www.nationmultimedia.com/national/GATES-GRANT-TO-CREATE-NEW-LOO-30191029.html
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