While Bill Gates rightly argues for "creative capitalism" that will "most effectively spread the benefits of capitalism and the huge improvements in quality of life it can provide to people who have been left out," his old company, Microsoft, continues to ignore one of the best ways to drive value into and from those developing economies:
Proprietary software treats developing economies as "vassals" to Microsoft, Oracle, IBM, SAP, etc. Open-source software, on the other hand, gives developing economies the raw materials to build up their own IT ecosystems. Instead of shipping rubles back to the US to pay for US-developed software, Russia and the developing IT economies of the world can keep their currency local, and then start inviting others' currencies in.
Some criticize Gates' proposals as misplaced. I tend to agree, but not for the reasons these critics highlight. No, I think Gates simply isn't "creative" enough in his capitalism. He suggests:… Read more