Bottom of the Pyramid

The term bottom of the pyramid (BoP) refers to the lower two thirds of the economic human pyramid, those 4 billion people living in abject poverty. More broadly, it refers to a market-based model of economic development that promises to simultaneously alleviate widespread poverty while providing growth and profits for multinational corporations (MNCs). The approach is also known as base of the pyramid (avoiding the negative connotations of the earlier term) and as sustainable livelihood business. It is increasingly adopted by firms in different industries (e.g., household goods, energy). Alleviating global poverty was identified as a top priority in the United Nations Millennium Goals. Unlike traditional aid-based models of economic development, BoP approaches recast poverty as an economic opportunity for MNCs. The basic argument has ...