The recipe to achieve a more equal and safer world require support for a young generation wanting to develop social enterprises, says to ‪Nobel Peace Laureate Professor Muhammad Yunus.

Addressing the 2016 World Government Summit, he warned of the impending danger associated with the concentration of wealth in the world, which could be alleviated by encouraging more social businesses to participate in the world economy.

“We’re heading in the direction of 1% of people owning over half of the world – we can’t allow this to continue,” he said.

Human beings’ behaviour had been distorted by capitalism, making them more selfish, according to Yunus.

“Capitalism is all about giving options to business, yet the text books don’t allow social business, as we’re told to make money and thus became greedy; it has distorted us.

“We need to go back, make a list of things of where we went wrong, and change this machine/concept to give young people a chance to change the world and integrate social business into the wider business plan,” he stated, alerting to the fact that half the world’s population was under 25 years old.

“We’re sitting on a time bomb,” he warned.