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:

  • 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







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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