Personal Perspective Recommendation


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Overview

  • Overview

    • Author
    • Book
  • Ethical Issues

  • Critique

  • Personal Perspective

  • Recommendation



An economist from Bangladesh

  • An economist from Bangladesh

  • Chairman of the economics department at Chittagong University

  • Inventor of Micro-credits

  • Founder of Grameen Bank

  • Noble Peace Prize Winner

  • Aspires to create social business



An autobiography about his life and how he formed the Grameen Bank

  • An autobiography about his life and how he formed the Grameen Bank

    • What influenced him?
    • His concept of micro lending
    • Importance of working women
    • Growth and challenges for the bank
    • And what it has achieved till date


Most essential decade was 1970s

  • Most essential decade was 1970s

  • Bangladesh won its independence

  • Millions of people needed to be rehabilitated

  • Yunus was stricken by the amount of poverty

    • He desperately wanted to change it.
    • He initiated projects to aid the farmers


Farmers were not the poorest

  • Farmers were not the poorest

  • Poorest of the poor had

    • No land
    • Food
    • Clothes
    • Source of income
  • Mostly women with kids

  • If not helped, they would die



Sufiya Begum

  • Sufiya Begum

    • The inspiration for Grameen Bank
  • Loan sharks

    • Ate up the profit in terms of huge interest
  • Birth of Grameen Bank

    • Grant small loans at decent interest rate
    • Without any collateral
    • Mostly for women
    • Based on trust and good faith


In 1976

  • In 1976

    • Only a small single hut
    • Students work as volunteers
    • Number of borrowers = 42 women
  • According to the book, it has now

    • 1,181 branches
    • 11,777 employees
    • Total Loans given $174.78 billion
    • 98% repaid
    • 95% borrowers are women
  • Over 250 institutions around the world operate micro-credit programs based on Grameen



Inequality

  • Inequality

    • Women treated unfairly
  • Regular Banks not allowing poor people to borrow

    • No collateral
    • Illiterate
  • Moral rights vs. religious rights (women)

    • i.e. women are not allowed to work outside


Multilateral Aid Institutions

  • Multilateral Aid Institutions

    • Aiding countries with the biggest price tag
    • Move up the promotion ladder
  • Corrupted officials

  • Corporate Social Responsibility

    • All businesses want money
    • No one wants the betterment of society


Book Quality

  • Book Quality

    • mostly focuses on micro-credit and the Grameen Bank
    • well-written
    • a subtle arrogance exists
    • quality is derived from the content


His points:

  • His points:

    • Well argued and effective
    • Uses individual examples
    • Uses statistics to better grasp the context
  • Contribution to the field

    • It “is” the field to micro lending
    • Relations with World leaders ensure field development


Raises the question of whether micro-lending is applicable in first world countries.

  • Raises the question of whether micro-lending is applicable in first world countries.

  • In a sense his goal is the opposite of “trickle down theory”

  • Gives “short shrift” to issues such as GDP and overpopulation



Establishment of the Bank

  • Establishment of the Bank

  • Utilitarianism

  • Competition

  • Ownership of the Bank





  • An action is right if it tends to produce, the greatest amount of good for the greatest number of people.



Competition tends to produce efficiency in the market and benefits the general consumer by resulting in a variety of goods at the best prices.

  • Competition tends to produce efficiency in the market and benefits the general consumer by resulting in a variety of goods at the best prices.



Government control would not be good for bank’s development

  • Government control would not be good for bank’s development



Explaining how his theory negates traditional economic theory

  • Explaining how his theory negates traditional economic theory

  • Is micro lending “one size fits all”?

  • More technical and less optimistic approach

  • Include organizational structure and balance sheets

  • Is it possible for normal banks to micro lend?

    • If so? How?




Picture of Mr. Yunus (slide 3)

  • Picture of Mr. Yunus (slide 3)

    • http://www.speakers.com/media/2012/images/yunus-muhammad-bio09.jpg
  • Title Page

    • http://thelemonaideguide.com/lemonaideblog/wp-content/uploads/2010/05/capitol-vs-finance.jpg
  • Book pic

    • http://covers.openlibrary.org/w/id/1468840-L.jpg



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