Page 152 - Social Enterprise A New Business Paradigm for Thailand

following chapter through the example of the Grameen Bank, a pioneering institution in the
Eastern hemisphere. The United States has developed a robust capital base for social enterprises,

largely due to its free-market culture, ideological emphasis on market liberalism, and well-
established legal infrastructure. The U.S. government has actively encouraged funding for the
social sector through legislation governing property, inheritance, and foundations. Once capital
markets for social enterprises were in place, businesses were expected to compete within them,
creating an environment that tests their competitive capacity, fosters innovation, and, most
importantly, demands clearly measurable outcomes. In contrast, European governments tend to
view the civil society sector as a key mechanism for delivering public services, particularly by
creating employment opportunities for vulnerable populations. As a result, they provide financial
subsidies at both the European Union and national levels.

119