KOCHI: Stating that effortless money is ruling the world now, economist S Gurumurthy has said money without economic value is also money without human values. He was participating in the Rajagiri-Excellence in Leadership-Panel discussion-2011 on Thursday. Speaking on the topic ‘Innovation, Ethics and Entrepreneurship,’ Gurumurthy pointed out that money has come to have a prime position today. Though it has been said that innovation was the mother of entrepreneurship, money has become the mother of entrepreneurship now. And it is the effortless money that is ruling the world, he said. Around 30 years ago, innovators used to become entrepreneurs, but today the innovators sell their product/idea to entrepreneurs who have money, Gurumurthy said. He also emphasised on sustainable and successful entrepreneurship where innovation and ethics form an essential part. He also said that innovation without ethics was a big disaster. Though entrepreneurship is a product of innovation, it is not necessary that it should be a product of ethics, he said.It has been said that India’s development was because of entrepreneurs, he said and noted that the entrepreneurship in India was something a product of socio-cultural factor that has led to the development.Stating that there was a need to expand the meaning of entrepreneurship, he said that earlier entrepreneurship was based on socio-cultural quality and added that one could grasp the potentiality if the quality was maintained.He said that China has been growing because of the potentiality of its citizens.Noting that India had a glorious past in terms of economics, he said history has shown that India was economically at the top.
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