Imperative for an Integrated Ideological Approach for Addressing the Wealth and Poverty Paradox at the Bottom of the Pyramid in Emerging Economies.

Abstract

The BoP is an ideological paradox that has become a compelling and emerging area of research interest representing on one hand the unserved, unreached base of the population billion market and on the other hand a mammoth development conundrum.

A preponderant number of studies have established the economic and commercial market potentials of the BoP emphasizing the critical role of multinational companies in addressing the poverty at the base of the pyramid primarily through inclusive capitalism. However, many other studies have equally focused on the humongous development needs of the BoP Segment, with particular reference to the role of state actors and policy instrument in addressing the development and poverty challenges of the BoP. Such studies frowned at the BoP mischaracterization as a compelling viable market rather than a social development project imperative. Consequently, studies conducted on the BoP have strongly reflected the ideological divergence of researchers in terms of their conceptual view of the BoP as a consumer market or a development imperative.

The objective of this study is to deconstruct and highlight the critical points of difference between these ideological positions on the BoP and establish an imperative for research focus on more integrated approach that combines both the inclusive capitalism and social development approaches to examining and dealing with the BoP.

Keywords: Bottom of the Pyramid, Ideological Divergence, Inclusive Capitalism, Social Development Imperative and Integrated Approach, Emerging Economies

JEL Classification: F23, 017, 035, 038, M31, P12