Muhammad Yunus' bold prediction before becoming new leader of Bangladesh
During an interview with Yahoo News in 2021, Dr Muhammad Yunus warned the economy was a threat to the environment and people.
Dr Muhammad Yunus has been chosen as the interim leader of Bangladesh after the nation’s prime minister fled the country when thousands of demonstrators took to the streets and stormed her official residence and set it on fire. But who is Dr Yunus?
Yahoo News Australia sat down with the Nobel Laureate for an hour-long interview during the Covid-19 pandemic about the failure of the world’s economic systems to combat racism, poverty and environmental collapse. During our discussion, he declared himself a “compulsive optimist”, but warned the world’s obsession with money was putting humankind at risk.
Muhammad Yunus's bold prediction: 'The house is burning'
During his 2021 interview with Yahoo, Yunus predicted current financial thinking that puts money above people would lead to global unrest. That warning appears to have been realised in his home country, where more than 300 people have died during the uprising against Prime Minister Sheikh Hasina who has been described as a "tyrant" and an "autocrat"
“(Outside the) house is burning, but inside the house we are having a party, enjoying ourselves,” he said.
“(There’s) economic growth and fantastic prosperity and all the beautiful technology is making our lives wonderful, but we don’t give a second thought that we’re under a burning house.
“That’s how we have been addicted. Our eyes cannot see, our body cannot feel. Soon it will be all burnt into ash. We can’t do that.”
You can watch an edited video of the interview below.
What do I need to know about Yunus?
Yunus, now aged 83, was a pioneer in microfinance, a concept that gave loans to people ordinarily too poor to access credit, so they could become entrepreneurs. He founded the Grameen Bank in 1983 to carry out this service.
He has been interviewed by talk show host Oprah Winfrey and appeared in cartoon form on The Simpsons.
Yunus has been a long time critic of the former prime minister during her 15-year rule, calling him a bloodsucker and accusing him of being focused primarily on money. The students behind the current uprising had proposed Yunus become leader.
He has faced dozens of lawsuits in Bangladesh, including accusations of money laundering and embezzlement. In 2023, 170 world leaders including Barack Obama wrote an open letter saying they were “alarmed” by continuous “judicial harassment” of Yunus.
What has Yunus said about the world’s economic system?
Speaking with Yahoo News in 2021, Yunus criticised global financial systems for putting individual profit maximisation above the collective interest. He said the economy had evolved in a flawed “haphazard way” over time, and its structure needed to be questioned.
“It was working in the wrong direction and we never stopped it,” he said.
“We got so glued into it, mesmerised by it, and continued to extol the virtues of the things that we do.”
What has Yunus said about climate change?
Yunus has warned the world needed to work harder to tackle the threat of climate change.
“It’s good to have a plan for 2050, but before that we have to ask ourselves, will we be there in 2050?” he told Yahoo.
“Human beings today are the most endangered species on the planet, we don’t have much time left.”
What has Yunus said about fossil fuels?
Yunus is a critic of fossil fuel companies and their impact on the planet.
“Fossil fuels sit very clearly with their intentions — making money. Because fossil fuels bring money, fossil fuels create jobs, that’s what the translation is,” Yunus said in 2021.
“Not only I make money, also you make money. Using the word job means they want to bring you to their side. I’ll get the money, and you’ll get the job and have an income.”
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