The past two decades have seen dramatic gains in human development. Poverty is falling, child survival rates are increasing, and education indicators are on a rising trend. During the same time period new modes of development ideas and practices have evolved that include local communities and the poor in finding solutions, and, in addition, points to partnering with business to address systemic challenges such as poverty, environmental degradation and climate change. Yet, wealth distribution within countries is diverging – and persistent inequalities in opportunity are holding back progress in health, education and employment. This lecture addresses these dilemmas and discusses possible ways forward, from both a human development perspective and a business perspective.