We must build our economy with people, not with business: Chief Adviser at CU Convocation

At the fifth convocation ceremony of the University of Chittagong, Nobel Laureate and Chief Adviser Dr. Muhammad Yunus delivered a compelling keynote address as the chief guest. In his speech, he emphasised, “To build our economy, we must begin with people rather than businesses.” He criticised the prevailing business-centric economic model as fundamentally self-destructive and underscored the necessity of establishing a sustainable and effective economy focused on human welfare.

Dr. Yunus reflected on his profound connection with the University of Chittagong, sharing the origin story of Grameen Bank. He noted that the foundation for Grameen Bank was established at this university, and he and the institution later received the Nobel Peace Prize in recognition of their contributions. The roots of his Nobel-winning initiative grew from the university’s Department of Economics.

Recollecting the famine of 1974, Dr. Yunus described how he began his work in the nearby village of Jobra. He initiated agricultural development by installing deep tube wells and encouraging local farmers to cultivate their land, which led to the "Tebhaga Farm." He highlighted that poverty is not merely a lack of resources but rather a deficiency in willpower.

Furthermore, he noted that he learned a new kind of economics from the impoverished women of Jobra. By providing them with small loans of 5 to 10 taka, he empowered them to achieve self-reliance. He also offered literacy support, helping many women reclaim their identities by learning their names, an aspect that society often denied them. He stressed that tackling poverty does not require waiting for governmental action; individuals must take the initiative themselves.

From: Bangla Tribune

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