Winner of the 2006 Nobel Peace PrizeThis autobiography of the world-renowned, visionary economist who came up with a simple but revolutionary solution to end world poverty--micro-credit--has become the classic text for a growing movement
Muhammad Yunus and I are best friends. (Oops, I had to double check, and I'd spelled "Muhammad" wrong. Sorry, buddy!)
Anyways, me and Mr. Yunus are best friends because once he spoke at the library in Salt Lake City, and when I heard about it I drove down and sat shyly on the back row of the auditorium and clapped really hard for him. Then after it was all over, I saw him just kind of hanging out all alone on the stage, and thought, "Maybe I could go and meet him and we could be best friends!" So
Muhammad Yunus and I are best friends. (Oops, I had to double check, and I'd spelled "Muhammad" wrong. Sorry, buddy!)
Anyways, me and Mr. Yunus are best friends because once he spoke at the library in Salt Lake City, and when I heard about it I drove down and sat shyly on the back row of the auditorium and clapped really hard for him. Then after it was all over, I saw him just kind of hanging out all alone on the stage, and thought, "Maybe I could go and meet him and we could be best friends!" So I went down and said, "Mr. Muhammad Yunus, I just think you are the greatest guy in the whole world and I love you!!" Then he goes, "Oh, thank you!" and he HUGS ME! I have hugged Mr. Yunus. (Or, I guess, he has hugged me.) That's why we are best friends.
Then, like the next day (or maybe the same day), I went to the Stadium of Fire in Provo, UT, and he was one of the honored people of the Freedom Festival and got an award on stage in front of millions (or thousands) of people! And I yelled "Hey buddy!" and he waved in my general direction. That's the story of our friendship.
So anyways, the reason why he is so cool is this: he is the guy who started the whole idea of micro credit, where he would give very small loans (like, $2) to poor women who would then start their own business, rise above generations and generations of poverty, and save the world. He set up the most amazing programs with groups of women, and has the highest repayment percentage in like, the entire world. His program grows and grows and grows and helps woman and families all over the place. (When the LDS church started up the Perpetual Education Fund, I thought, "HEY! That's totally just like Muhammad's idea. Maybe President Hinckley read his book, too!")
Oh, and it all started in his native Bangladesh. There is some website where you can do micro loans with your own money. My sister sent it to me once after I made her read this book. I invited her to see Muhammad Yunus in SLC, but she declined, and so she is not his friend. But, she might have that website still.
Banker to the Poor is a cool book. Read it.
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After finishing this book, I wanted to shout, "Yeah! Preach it, brother!"
Really cool book. Yunus won the 2006 Nobel Peace Prize for his decades of work. He is an academic who roles up his sleeves and produces something practical. His book should be embraced by Christians, conservatives, liberals, libertarians, and Dave Ramsey.
This book provides an informative overview of Grameen Bank and micro-lending, but I think that its argument in favor of micro-lending would be stronger if Yunus spent more time addressing the arguments of critics. Although some criticisms are mentioned briefly, Yunus brushes them off quickly. As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world would not benefit from micro-lending in the same ways as the poor of Bangladesh. I thi
This book provides an informative overview of Grameen Bank and micro-lending, but I think that its argument in favor of micro-lending would be stronger if Yunus spent more time addressing the arguments of critics. Although some criticisms are mentioned briefly, Yunus brushes them off quickly. As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world would not benefit from micro-lending in the same ways as the poor of Bangladesh. I think that he seriously underestimates the different attitudes that poor Westerners have, especially in light of the fact that their poverty is generally much less extreme. Moreover, unlike the rural Bangladeshi poor who tend to have skills like basket-weaving, I am uncertain that the average poor American would have marketable skills that could be translated into income opportunities.
This book has a tendency to be preachy, and, in my view, becomes a little boring at times. Still, it is more accessible and readable than I would expect for a book about an economic idea. I think that Yunus' notion that worldwide poverty can be entirely eradicated through micro-lending is way off base. If mciro-lending is the means to end poverty, why does Bangladesh remain one of the poorest countries in the world? Yunus' idea that micro-lending could completely supplant the need for any safety net (including for health care) is, in my view, harmful and should properly be viewed as an ideology of the far right.
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I read a 20+ pages report written by a group of MBA students from Columbia Business School and it was as concise, succinctly put as this 200+ pages book on Grameen Bank/microcredit.
The importance of open access to resources is indispensable. Hence, I agree with Muhammad Yunus that the current financial system has inevitably, and is successful in sidelining the neediest, which eventually gives birth to the need to establish alternative institutions that work on social benefits as the underlying
I read a 20+ pages report written by a group of MBA students from Columbia Business School and it was as concise, succinctly put as this 200+ pages book on Grameen Bank/microcredit.
The importance of open access to resources is indispensable. Hence, I agree with Muhammad Yunus that the current financial system has inevitably, and is successful in sidelining the neediest, which eventually gives birth to the need to establish alternative institutions that work on social benefits as the underlying guidance in providing their services to the people. The establishment of the bank and many other replicators might seem to be successful in helping these people to break the poverty cycle, however exploitative forces still persist within the parameter. Labeling these people as the untapped resources and knowing how profitable they all are once tapped, lure the profiteers in. Consequently from this, we can see that the establishment itself has become counterproductive (not all however). It makes me think and feel extremely appalled by the greediness and the very fact on how destructive human beings can actually be. Besides, I too agree with the fact that Grameen Bank might be one of the solutions to poverty, not THE ultimate solution for it, taking into account that it could not make a dent on the national or even worldwide poverty crisis despite the fact that the program has a widespread reach.
Though it is noble in its very own values, I was disappointed with the insufficient details from the borrowers’ accounts on how microcredit has served and helped them to combat poverty. The mere statistically glorious achievements attained by Grameen Bank –with 90+% repayment rate, XX% borrowers managed to cross over the poverty line and whatnots – fail to quench the thirst I have in knowing what does microcredit really mean to the impoverished. Yunus stated that everybody should be seen as potential entrepreneurs and access to credit is vital for the people to realize this. Yet I hardly can see how successful the poor people are in transforming themselves from nobodies into entrepreneurs, thanks to the painfully brief ‘victorious’ stories written by Yunus. I was itching with curiosity to know the real, detailed stories from these people’s perspectives. How do they make do with the microcredit being lent to them? What lead them to engage in the business that they are doing? Is training really not necessary for these people?
Besides, there are things that Yunus had failed to mention in this book and one of those was the reasoning behind the creation of Grameen bank II, which I had come to know when I read the report I mention above –the operational crisis due to the 1995 boycott movement, 1998 floods and moral hazard that the classic Grameen model had inflicted upon the borrowers. In regard to this, I think that this book has been sugarcoated, with unaddressed crises and issues deepen my doubt about how successful Grameen Bank is beyond the statistical measures - on social ground that is.
Baru mulai beberapa hari lalu bacanya dan langsung suka. Ekonomi yang terkenal sebagai "fisikanya ilmu sosial" ditangan Yunus berubah menjadi antropologi ekonomi. Ilmu yang sarat identik dengan asumsi nomethetik sebagai kacamata paradigmatiknya, di tangan Yunus dikemas menjadi sangat ideografis, sarat dengan muatan lokal melalui pendekatan kasuistik dan misi perubahan sosial.
Yah, Pak Yunus dengan sangat rendah hati telah mengubah dirinya dan lingkungan akademisnya untuk mau menjadi mahasiswa di
Baru mulai beberapa hari lalu bacanya dan langsung suka. Ekonomi yang terkenal sebagai "fisikanya ilmu sosial" ditangan Yunus berubah menjadi antropologi ekonomi. Ilmu yang sarat identik dengan asumsi nomethetik sebagai kacamata paradigmatiknya, di tangan Yunus dikemas menjadi sangat ideografis, sarat dengan muatan lokal melalui pendekatan kasuistik dan misi perubahan sosial.
Yah, Pak Yunus dengan sangat rendah hati telah mengubah dirinya dan lingkungan akademisnya untuk mau menjadi mahasiswa di depan kaum yang dianggap: nir-ketrampilan, ter-kutuk, malas, dan banyak lagi tudingan menara gading lainnya. Benar katanya, melalui beberapa bab yang terlewat, "Kaum miskin mengajarkan saya ilmu ekonomi yang sepenuhnya baru."
Senang membaca buku yang tadinya saya duga akan penuh dengan angka, tapi nyatanya sarat dengan pesan yang memperkaya hati. Tersentuh dengan Bapak-nya Yunus yang dengan sabar merawat ibunya yang terserang gangguan jiwa. Duh segala peri-gombal Gibran tumbang dengan perilaku Ayahnya Yunus itu.
Utang Baca makin banyaaaa...k! Tralala-tri li li
Update: 10 Juli 2008:
Sebenernya dah mau tamat. Namun masuk bagian soal dia memulai dan kemudian berhasil memetakan permasalahan kredit mikro yang terkait dengan problem sosio-kultural, konstruksi gender yang tidak berpihak pada solusi pengentasan kemiskinan, sekaligus agama, dengan juga tantangan dari pihak luar, kok malah jadi ribet. Ribet bukan karena paparannya, tapi bagaimana uraian Yunus yang naratif tidak mudah disarikan secara konseptual. Seperti cerita pola akunting yang operasional itu dikembangkan berdasarkan kejadian lapangan. Dan juga, cerita Yunus yang mencoba memperluas nasabah-nya melalui baliho atau papan tulisan. Namun, Yunus dalam ceritanya kemudian mengakui betapa ironisnya usaha itu. Ia lupa bahwa sebagian besar nasabahnya adalah perempuan buta huruf. Sehingga untuk lebih merengkuh nasabahnya yang sebagian besar perempuan yang modal utamanya adalah keinginan memperbaiki hidup diri dan anak-anaknya, ia harus menyambangi mereka di lingkungan mereka, dengan rintangan budaya setempat yang menerapkah
purdah
, hijab laki dan wanita.
Ceritanya mengalir. Namun kepala ini susah juga diajak bolak-balik buku konseptual dan buku cerita. Buku Yunus ini buku cerita buat saya, narasi kasus pendirian dan pengembangan Grameen Bank. Untuk itu saya lompat dahulu ke bagian penutup yang merupakan pidato Yunus ketika mendapatkan Hadiah Nobel. Pidato-nya merupakan ringkasan dari keseluruhan .
hehe Sementara bermain curang dulu yah...
*update 2 Agustus 2008*
Mulai mendapatkan ide kenapa di buku ini lebih bermain emosi daripada mekanime yang dikembangkan sama Yunus. Sebagai ekonom Yunus cukup rendah hati dengan mengedepankan pendekatan kasuistik dalam programnya agar setiap programnya selalu tepat sasaran, meski tetap menggunakan asumsi generalisasi (nomothetic) ala ilmu ekonomi. Karena toh diujungnya, ia juga mendorong enterprenerialisme yang berbasis sosial, melakukan usaha demi kebaikan. Sebuah ungkapan sederhana yang bila ditilik secara mendalam mengubah salah satu prinsip rasionalitas dalam ilmu ekonomi. Rasionalitas yang identik semangat memperbesar keuntungan pribadi diubah menjadi sebuah semangan altruisme sosial dalam dunia usaha. Saya sendiri masih menunggu operasionalisasi konsep Yunus itu.
Merapihkan review ini juga masih jadi hutang. Bila saya mengingat Yunus yang berbuat "baik" bagi kaum miskin di lingkungan sekitarnya, dan kemudian ditanya niatnya, dia toh menyatakan, "
So one way, I try to kind of enlightened my frustration and agony by coming to the conclusion that I may not be useful as an economist, but I'm still a basic human being.
" Soal niat saya cuma inget cerita Kang Harry Roesli ketika ditanya kenapa dia membantu pengamen dan anak jalanan, jawabannya adalah mencegah mereka yang hidupnya keras di jalan dari menjadi kriminal di besarnya nanti. Karena mencegah mereka menjadi kriminal adalah memberi lingkungan sosial yang leih baik bagi anaknya yang seumuran dengan pengamen dan anak jalanan itu.
Ketika mendengar Yunus bicara tentang niatnya, saya berkesimpulan, berbuat baik itu pun bukan sebuah heroisme atau altruisme yang berlebihan. Berbuat baik itu tidak lebih adalah demi egoisme pribadi si pelaku. Bagi Yunus adalah meredakan rasa frustasinya, bagi Kang Harry menolong anak jalanan adalah menciptakan lingkungan sosial yang baik bagi anaknya bila kelak dewasa. Menolong orang lain tak lebih dari menolong diri sendiri. Egoisme yang oleh Yunus ingin dikembangkan dalam konsep
social bussines
.
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This book has much in common with
Three Cups of Tea: One Man's Mission to Promote Peace . . . One School at a Time
. In it, Mohammad Yunus seeks to alleviate poverty one person at a time, with micro-loans. It's a fascinating look at how the system works, and the enterprise's founding and history were equally absorbing. Like Three Cups of Tea, however, the writing is just so-so. Yunus comes across as a bit self-righteous and a bit pedantic, and the writing at times is repetitive. Overall it's an i
This book has much in common with
Three Cups of Tea: One Man's Mission to Promote Peace . . . One School at a Time
. In it, Mohammad Yunus seeks to alleviate poverty one person at a time, with micro-loans. It's a fascinating look at how the system works, and the enterprise's founding and history were equally absorbing. Like Three Cups of Tea, however, the writing is just so-so. Yunus comes across as a bit self-righteous and a bit pedantic, and the writing at times is repetitive. Overall it's an interesting and valuable book, though, and I was very glad that I'd read it.
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This weekend I attended the Bottom Billions | Bottom Line Conference hosted by Seattle Pacific University’s Center for Integrity in Business. The event served as a convergence zone between business, nonprofit organizations, and the academy seeking to better understand ways that business can help alleviate world poverty.
Of the many interesting subjects discussed at the conference, the topic of microfinance seemed to continuously echo through my head. For those unfamiliar w
How to Eliminate Poverty
This weekend I attended the Bottom Billions | Bottom Line Conference hosted by Seattle Pacific University’s Center for Integrity in Business. The event served as a convergence zone between business, nonprofit organizations, and the academy seeking to better understand ways that business can help alleviate world poverty.
Of the many interesting subjects discussed at the conference, the topic of microfinance seemed to continuously echo through my head. For those unfamiliar with the term, microfinance occurs when banks or nonprofit organizations loan small amounts to the poor, helping them to use these miniscule amounts of capital to begin income-generating endeavors.
Muhammad Yunus, founder of Grameen Bank and author of
Banker to the Poor
, observed that the only thing the poor lacked was opportunity.
He writes,
“When you hold the world in your palm and inspect it only from a bird’s eye view, you tend to become arrogant – you do not realize that things get blurred when seen from an enormous distance. I opted instead for “the worm’s eye view.” I hoped that if I studied poverty at close range, I would understand it more keenly.”
Charity vs. Microfinance
Without capital, the poor would take a loan from a moneylender at exorbitant rates in order to partake in the economy. At the end of the day, these people took home pennies to support a family. Yunus figured that if he could loan these slight sums at low interest rates, the poor could enjoy selling the products of their labor on the open market, thus creating economic capital and a trail out of poverty.
Charity, on the other hand, gives freely without expectation of return. Many, though, have suggested that pure charity does not eradicate poverty, because the poor become dependent on receiving aid. Blogger Filip Spagnoli aggregates international development aid on his website. The evidence he has compiled suggests that the amount of aid contributed to these developing nations is staggering, and yet economic growth is not a result.
Would development function differently if aid came in the form of a loan instead of charity? Yunus believes that loans to the poor provide the best investment. Many stuck in the cycle of poverty are smart and hardworking; they just need the money to start. While big banks typically consider micro-loans to be both risky and inconsequential, Yunus’ experience argues that the poor possess the highest incentive to repay their loans.
Of course, when unforeseen problems such as natural disasters and economic meltdowns place the poor in positions where they are unable to repay the loan, Yunus extends grace and loans more money to help the poor back on their feet. In this way, microlending encourages entrepreneurial spirit. Where charity gives the widow a fish, microfinance engages in teaching the widow to fish.
What Is the Best Thing?
Although charitable giving in and of itself is never a bad thing, I do wonder if it is the best thing. Of course, a free gift without expectation of repayment carries the highest blessing for the receiver, yet long term, I wonder if microloans create a better society. Certainly, charity is necessary for the destitute – the people who are so poor that any money loaned would be used to keep them from dying. Yet, the moderately poor need a kick start and microlending seems to be the best option in alleviating these struggles.
Yunus writes
Banker to the Poor
in an autobiographical tone. He tries his best to position the book as a personal success story in the ongoing battle against poverty. It certainly seems like his position could and should be implemented worldwide, yet Yunus writes with a touch of humility. If you are interested in ways to eradicate poverty outside of giving to your favorite nonprofit, I suggest that you read this book.
Just an amazing story, how an economics professor from Bangladesh, trained in the U.S., goes back to his country to do "nation-building" and finds enormous untapped potential among the poor. Harnesses a stripped-down, modified version of traditional banking to start a bank that eventually gains a client base of over 2 million people. That's nuts! How do you start anything that big? One person at a time, apparently - that's how he did it. At a certain point the book stops being a life story and s
Just an amazing story, how an economics professor from Bangladesh, trained in the U.S., goes back to his country to do "nation-building" and finds enormous untapped potential among the poor. Harnesses a stripped-down, modified version of traditional banking to start a bank that eventually gains a client base of over 2 million people. That's nuts! How do you start anything that big? One person at a time, apparently - that's how he did it. At a certain point the book stops being a life story and starts being advice from a social entrepreneurship guru. So much the better! The man's ability to create not only a poverty alleviation strategy, but an organizational strategy that's met with so much success, is just mind-boggling to me.
I guess I've just never seen a collective wave of altruistic behavior like the one he describes among his loan officers. I'd really like to see it. Does anyone know where I can find it? The closest thing I've seen is the way a friend of mine described his AmeriCorps program in the early 2000s, where he started a mentoring program for high school students that really took off.
Anyways - I think building strong organizations like Grameen, that are really accountable to their clients and are there, day after day, not only exhorting but modeling truly admirable behavior, is absolutely key to the elimination of poverty worldwide. One-time interventions don't do it, and there has to be trust and accountability the whole way through. Not only that, but understanding and empathy.
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Recommends it for:
businessmen, economists, policymakers, hopeful idealists, and cynics
Recommended to Tyler by:
Stumbled upon it at bookstore and bought it immediately
I LOVED THIS BOOK -- six stars. It tells the story of Grameen and microcredit from the beginning until now.
Forget theories, classrooms, and endless postulating. Acting on a desire to help others will go so much further than all of aggrandized theories and reticent intentions.
Muhammad Yunus changed the world with a simple idea spurned from his moral sense.
Dave
I remember when I first heard of Yunus' idea of micro-lending. It may have been around the time I read "Small Is Beautiful: Economics As If People Mat
I remember when I first heard of Yunus' idea of micro-lending. It may have been around the time I read "Small Is Beautiful: Economics As If People Mattered" by E. F. Schumacher, but I could have simply associated the two because of their ideas. I agree that simple good will and other forms of altruism are undervalued and can be very powerful in action. I will add this to my list. Thanks for reminding me.
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Jun 29, 2008 07:15AM
This book is about the Grameen Bank and their effort to give micro-credit loans to the poorest of the poor. I heard about it during college, but really enjoyed learning its history and progress. The edition my library had was from 1999, so I will research online for updates in the last 15 years.
I love the idea of empowering people using the talents they already have to find income.
One note, Dr. Yunus is a very pompous man. BUT, if these programs are working as well as he says they are, then goo
This book is about the Grameen Bank and their effort to give micro-credit loans to the poorest of the poor. I heard about it during college, but really enjoyed learning its history and progress. The edition my library had was from 1999, so I will research online for updates in the last 15 years.
I love the idea of empowering people using the talents they already have to find income.
One note, Dr. Yunus is a very pompous man. BUT, if these programs are working as well as he says they are, then good for him. He deserves to be proud.
It's given me a different way to look at social change (although I still believe charity has its place in helping). This part especially (p. 237):
"When we want to help the poor, we usually offer them charity. Most often we use charity to avoid recognizing the problem and finding a solution for it. Charity becomes a way to shrug off our responsibility.
"Charity is no solution to poverty. Charity only perpetuates poverty by taking the initiative away from the poor. Charity allows us to go ahead with our own lives without worrying about those of the poor. It appeases our consciences.
"But the real issue is creating a level playing field for everybody, giving every human being a fair chance."
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This is a very interesting and unusual book about an economist dedicated to helping the poor. As in, trying some things to help the poor, watching the effects, and figuring out whether they really are reaching the poorest that he is trying to help. I found his discussion of real-life effects engaging and basic, i.e. you don't need to be an economics expert to understand what he is saying. For example, the author first tried helping a collective of farmers and sharecroppers with improved irrigati
This is a very interesting and unusual book about an economist dedicated to helping the poor. As in, trying some things to help the poor, watching the effects, and figuring out whether they really are reaching the poorest that he is trying to help. I found his discussion of real-life effects engaging and basic, i.e. you don't need to be an economics expert to understand what he is saying. For example, the author first tried helping a collective of farmers and sharecroppers with improved irrigation and high-yield seeds, but found it disproportionately helped the farmers and didn't help the sharecroppers nearly enough.
Yunus' basic claim is that people who are desperately poor are often willing to work hard to improve their circumstances, but there is a certain minimum of capital (money, equipment, etc.) necessary to do so. They often already know things they could do to make money and don't need skills training, they just need access to capital at a reasonable rate to escape the cycle of borrowing money at incredible rates => making very little for themselves => borrowing more money at incredible rates. Yunus' genius was not only in lending directly to the poor at reasonable rates in specific ways to help them overcome their poverty, but also creating groups of borrowers with social ties to support them. He also focused heavily on lending to women.
The author feels that government efforts to help the poor are better at creating bureaucracies that help themselves, and that government's role should be to prevent unfair squelching of competition, keeping barriers to entry low, and generally staying out of the way. He notes that his approach actually works better in 3rd world countries where, ironically, it's easier for individuals to start their own business and for the poor to improve themselves. Developed nations had problems starting this kind of approach because welfare often prevents them from making their own money (by disallowing it or deducting what they make from their welfare) and by requiring all kinds of certifications, paperwork, and extraneous expense when starting a business.
I like a lot of what Yunus has to say, although I think he gets a little off sometimes. His discussions of government and international organizations is extremely dry. I'm also a bit surprised to hear him claim that if we eliminated poverty there wouldn't be extreme business cycle fluctuations anymore, and his experience with helping start microcredit programs in developed countries supported some belief that some poor don't want to help themselves, even though he refused to believe it (better to phrase it as finding the ones who do and reaching them). However, I really like what he's done and I think it's a fantastic idea.
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I picked this up because I was interested in learning a little more about Grameen bank, which as I understand it is pretty much the granddaddy of micro-credit organizations. I very much enjoyed the book. It's divided into about four parts: a quick autobiography of Yunus, a quick history of how Grameen got started and its principles, some criticism of some current (actually now somewhat dated) movements in global development, and a summary of Yunus's vision of social entrepreneurship.
I always fin
I picked this up because I was interested in learning a little more about Grameen bank, which as I understand it is pretty much the granddaddy of micro-credit organizations. I very much enjoyed the book. It's divided into about four parts: a quick autobiography of Yunus, a quick history of how Grameen got started and its principles, some criticism of some current (actually now somewhat dated) movements in global development, and a summary of Yunus's vision of social entrepreneurship.
I always find autobiographies a little weird, and Yunus' panegyric to his own organization doesn't exactly read as unbiased. However, I think he does a fair job of addressing some of the criticisms I've heard made of Grameen realistically, without whitewashing. For example, I find it fascinating that he is willing to admit that there may casualties related to the organization of the bank (eg, female bank workers harassed or borrowers bullied) but argues that upholding certain principles are worth the risk.
I'd definitely recommend this to anyone interested in micro-credit, it was an engaging and very informative read. On a side note, I also found myself thinking a lot about Hernando de Soto's book The Mystery of Capital while I was reading this- the two books could be interesting to read together side-by-side.
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I live and work in Bangladesh and I've met Grameen borrowers who are so incredibly oppressed and stressed out by the repayment of their loans and women who have been forced to get loans and then hand them over to family members, but I've never yet met a woman who told me that a Grameen loan changed her life for the better.
Professor Yunus is a capitalist and thinks that the capitalist economy is a positive thing, even for the poor. He believes in competition rather than cooperation. He believes
I live and work in Bangladesh and I've met Grameen borrowers who are so incredibly oppressed and stressed out by the repayment of their loans and women who have been forced to get loans and then hand them over to family members, but I've never yet met a woman who told me that a Grameen loan changed her life for the better.
Professor Yunus is a capitalist and thinks that the capitalist economy is a positive thing, even for the poor. He believes in competition rather than cooperation. He believes that the free market is truly free - and that it would be even better for everyone if it was more free. He is an economist trained in the traditional economist way.
Really though, this reviewer pretty much summed up my thoughts on this book exactly:
http://www.goodreads.com/review/show/...
"This book provides an informative overview of Grameen Bank and micro-lending, but I think that its argument in favor of micro-lending would be stronger if Yunus spent more time addressing the arguments of critics. Although some criticisms are mentioned briefly, Yunus brushes them off quickly. As one example, I think that Yunus far too quickly rejects the arguments that poor people living in the developed world could benefit from micro-lending in the same ways as the poor of Bangladesh. I think that he seriously underestimates the different attitudes that poor Westerners have, especially in light of the fact that their poverty is generally much less extreme. Moreover, unlike the rural Bangladeshi poor who tend to have skills like basket-weaving, I am uncertain that the average poor American would have marketable skills that could be translated into income opportunities.
This book has a tendency to be preachy, and, in my view, becomes a little boring at times. Still, it is more accessible and readable than I would expect for a book about an economic idea. I think that Yunus' notion that worldwide poverty can be entirely eradicated through micro-lending is way off base. If mciro-lending is the means to end poverty, why does Bangladesh remain one of the poorest countries in the world? Yunus' idea that micro-lending could completely supplant the need for any safety net (including for health care) is, in my view, harmful and should properly be viewed as an ideology of the far right."
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Banker to the Poor: micro lending and the battle against poverty, by Muhammad Yunus, narrated by Ray Porter, produced by Blackstone Audio, downloaded from audible.com.
Professor Yunus was an economics professor teaching at a university in what is now known as Bangladesh. In the late ‘70’s, he came to the conclusion that his students needed more hands-on experience in the economics of being poor. He discovered that the very poorest people, mostly women, could never get beyond being poor because no
Banker to the Poor: micro lending and the battle against poverty, by Muhammad Yunus, narrated by Ray Porter, produced by Blackstone Audio, downloaded from audible.com.
Professor Yunus was an economics professor teaching at a university in what is now known as Bangladesh. In the late ‘70’s, he came to the conclusion that his students needed more hands-on experience in the economics of being poor. He discovered that the very poorest people, mostly women, could never get beyond being poor because no one would lend them money. The banks could have loaned them a minuscule amount, and they would have been able to avoid the money-lenders who charged such outrageous interest, but the banks told Yunus that since the people couldn’t fill out the paperwork and had no collateral, they couldn’t have loans. Anyway, the poor had no skills or training, the banks and economic professors said, and therefore would be unable to pay the money back. Since he couldn’t convince the banks or the government to provide help without also giving him unwanted strings, he quit his job as a professor and became a banker for the poor. Starting in the 1970’s and still going 30 years later, Yunus has set up banks specifically for the poor, and the idea has spread through the developing nations. Almost always the debts are totally repaid. The very poor have nowhere else to go to get money, so they pay back the debts, faster and more completely than debtors from regular banks. It’s a fascinating book following the evolution of Yunus’ ideas and the success of his micro-lending theories. This book was first published in 1996, then updated and republished in 2003. Yunus received the Nobel Peace prize in 2007 for his work. Ray Porter does a wonderful job of narrating this book. He uses just the right intonations to make it seem as if Professor Yunus is right in the room conversing with you.
A must-read for anyone working in development field. It is loaded with thought-provoking facts and motivation to work on something that will really be useful for what so-called grassroot communities. His explorations reveals important facts on who are "the poor", what they need, how they are at the face of conventional economics, and the breakthrough in cutting the circle of poverty.
His questions on how academic world can give real impacts to the community is the question that remains in many p
A must-read for anyone working in development field. It is loaded with thought-provoking facts and motivation to work on something that will really be useful for what so-called grassroot communities. His explorations reveals important facts on who are "the poor", what they need, how they are at the face of conventional economics, and the breakthrough in cutting the circle of poverty.
His questions on how academic world can give real impacts to the community is the question that remains in many parts of the world. His statement,"When you hold the world in your palm and inspect it only from a bird's eye view, you tend to become arrogant - you do not realize that things get blurred when seen from an enormous distance" - is an auto-critique to how most academician works, and is a great entrance to the rest of the journey to find out how knowledge on economics and development would be matched with the real circumstances of the community.
Here we can feel Muhammad Yunus' passion in what he is doing, and learning the a social activist really go a long way fighthing for things that he believes: from the idea of Bangladesh independence until the ideas to liberate the bamboo stool makers in Jobra. Passion is the power that led many to choose their career path in development works, yet not everyone can make a change that is as big as what Dr. Yunus has done. This book helps to show what it takes to make that change happen.
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Muhammad Yunus is certainly an outstanding thinker and leader. he has a clear view of what he wants to achieve and is a real revolutionary in the way he works to help his society and humans all over. he's highly passionate when it comes to the poor, and he really shows us how we can do a lot of good though social activity rather than going into politics.
the book starts with the an account of his typical childhood and his memories of those days. he finishes school, gets
i wanna give this book 6/5!
Muhammad Yunus is certainly an outstanding thinker and leader. he has a clear view of what he wants to achieve and is a real revolutionary in the way he works to help his society and humans all over. he's highly passionate when it comes to the poor, and he really shows us how we can do a lot of good though social activity rather than going into politics.
the book starts with the an account of his typical childhood and his memories of those days. he finishes school, gets a scholarship and flies to the US where he earns a PhD in economics. everything changes when Bangladeshi people raise up against the Pakistani army asking for independence and all hell breaks loose, at which time Yunus shines as one of the leaders of the Bengali workers/students in the states as they lobbied and demonstrated in Washington to build support for their country against Pakistan.
returning to Bangladesh after the independence with his American wife, his work to serve his society is really impressive. the book tells the tale of his work to help the poor, how he started and developed his ideas of how to best assist the really poor villagers to have a more human and decent lives. through it all, his ideas and views are really inspiring. the work he's done spans from early 70s till date, starting from a small village near the campus of his University, and all the way to the national level. afterwards he takes his idea to various countries of the 3ed world and then to the rich industrial ones (United States!).
Grameen Bank (rural bank) that he worked really hard to establish best serves his ideas of providing micro-credit to the poor. this means providing small loans to the poor allowing them to buy the raw material/instruments they need to start making money and support themselves. its a unique organization, where 95% of it is owned by the poor borrowers themselves, and the remaining 5% is owned by the government. the bank has grown to the level of providing housing loans, disaster support, and it now serves more than 8 million poor people and has so far provided loans amounting to 10 billion US$.
the book is full of Yunus's strong views on how to help the poor, and heavily criticizes the current international "industry" of relief which is largely controlled by politics, and is filled by "consultants" who charge huge amount of money to write biased useless reports on situations on the poor areas of the world.
i strongly recommend everyone to read this book.
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I can now understand why this micro-lending system can only be awarded the Nobel Peace Prize not the Economics. The whole system is based on trust and understandings of the poor in Bangladesh. Actually it's still a surprise for me the repayment rate is as high as 95% even in the forming stage of the bank. Sometimes when i read about the situations of the women in the country who cannot relieve from the dead circle of poverty, I feel grateful that Prof. Yunus has had the gut to break the traditio
I can now understand why this micro-lending system can only be awarded the Nobel Peace Prize not the Economics. The whole system is based on trust and understandings of the poor in Bangladesh. Actually it's still a surprise for me the repayment rate is as high as 95% even in the forming stage of the bank. Sometimes when i read about the situations of the women in the country who cannot relieve from the dead circle of poverty, I feel grateful that Prof. Yunus has had the gut to break the traditions and to help them out.
Didn't finish the whole thing. Stopped at Chapter 7. Most of the challenges they faced earlier were from the government. It's ironic that a government which was formed to support the people came against them. I guess the following challenges of the bank mostly lie on government, when in its own country. When the bank expands the branches into different countries with different political and cultural structure, there sure be more challenges to come.
It was so refreshing to read such an intelligent account and learn about something I know very little about. Yunus stepped down from his ivory tower to eradicate poverty in Bangledesh using micro-loans and in short according to him it worked. He claims that credit is a human right. To me the best aspect of his model was that it was not a gift of money given to the poor, but a loan requiring repayment. The loan gave each person a chance to improve their own business and get out from oppressive mo
It was so refreshing to read such an intelligent account and learn about something I know very little about. Yunus stepped down from his ivory tower to eradicate poverty in Bangledesh using micro-loans and in short according to him it worked. He claims that credit is a human right. To me the best aspect of his model was that it was not a gift of money given to the poor, but a loan requiring repayment. The loan gave each person a chance to improve their own business and get out from oppressive money lenders and others taking advantage of them.
I thought this book was going to be dull, but I found it fascinating and refreshing. I do not agree with all of Yunus's ideals, but many of them make more sense than models we are currently operating under or will possibly face in the future.
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Dr. Yunus could prove it is possible to lift the poorest out of poverty. He could open eyes of bankers who stick with the idea that lending could happend only when collateral is secured. His experience ilustrates the private sector is not only for the greedy but also for social-minded individuals. I would recommend the book to anyone who wish for a poverty-free world.
Initially I thought this would be another "development book", but I was quite surprised. Not only is Yunus very market-orientated, but insist on Grameen Bank being a fully commercial.
It was very inspiring to read how easily to give the poorest of the poor a chance by merely giving them monetary credit, and to hear Yunus tell how they found dignity and self-reliance when given an opportunity. The poor do not need training or aid, they only need credit from a bank so they can pool themselves out
Initially I thought this would be another "development book", but I was quite surprised. Not only is Yunus very market-orientated, but insist on Grameen Bank being a fully commercial.
It was very inspiring to read how easily to give the poorest of the poor a chance by merely giving them monetary credit, and to hear Yunus tell how they found dignity and self-reliance when given an opportunity. The poor do not need training or aid, they only need credit from a bank so they can pool themselves out of poverty.
La escritura/traducción no son increíbles pero lo grandioso de este libro es la historia que cuenta. Me hizo recuperar mi espíritu juvenil de "quiero salvar el mundo". Sólo necesito poner manos a la obra antes de que ese espíritu se vuelva a oxidar en mí
I was only vaguely informed about micro-credit programs before reading Yunus. HIs success in Bangledesh is remarkable. I do have some concerns that Grameen may have become too big and too successful. It's cell phone and "insurance" arms look an awful lot like capitalist corporations. On the other hand, if Grameen can encourage the blending of "greed-based" and "socially conscious" motivations, maybe there's hope.
I'm eager to discuss this with Merry, who loaned it.
Got a very different view of world poverty. Yunus has both an idealist and practical mastery on the subject.
From my bookmarks;
•Brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. they believe that these will be resolved when general economic prosperity increases
•The poorest of the poor work 12hrs a day. they need to sell and earn income to eat. they have every reason to pay you back, just to take another loan and live another day! tha
Got a very different view of world poverty. Yunus has both an idealist and practical mastery on the subject.
From my bookmarks;
•Brilliant theorists of economics do not find it worthwhile to spend time discussing issues of poverty and hunger. they believe that these will be resolved when general economic prosperity increases
•The poorest of the poor work 12hrs a day. they need to sell and earn income to eat. they have every reason to pay you back, just to take another loan and live another day! that's the best security you can have-their life!
•The more money we lent to poor women, the more I realize that credit given to a woman brings about change faster than when given to a man
•All human beings have a innate skill-the survival skill. the fact that the poor are alive is clear proof of their ability. they do not need us to teach them how to survive; they already know how to do this.
•Formal learning threatens experience for our borrowers. it can even destroy their natural capacity or make them feel small, stupid and useless
•personal gain is not the only possible fuel for free enterprise. social goals can replace greed as a powerful motivational force
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Disillusioned with the top-down policies he was lecturing at Chittagong University, Yunus began to implement bottom-up economic policies in Jobra, the village closest to Campus in an attempt to combat the Bangladeshi famine of 1976.
He realised that lending a widow 22 cents could remove her and her children from a cycle of debt, poverty and hunger. The Grameen (Village) Bank, and similar establishments in over a hundred other countries now provide micro-credit to the poorest, those who have no la
Disillusioned with the top-down policies he was lecturing at Chittagong University, Yunus began to implement bottom-up economic policies in Jobra, the village closest to Campus in an attempt to combat the Bangladeshi famine of 1976.
He realised that lending a widow 22 cents could remove her and her children from a cycle of debt, poverty and hunger. The Grameen (Village) Bank, and similar establishments in over a hundred other countries now provide micro-credit to the poorest, those who have no land, with no collateral and achieve repayment ratios in excess of 98%. The initiatives work on the contrary view to standard international development teachings that to alleviate world poverty requires absolutely no training of the poor, merely the supply of micro-capital for them to become self-employed.
Yunus ends by outlining his vision of socially responsible companies that are non-loss making but judged on their social benefits, rather than shareholder profits, in a dialogue sometimes reminiscent of Che’s “The Motorcycle Diaries”.
It is an electrifying and motivating must-read.
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If you think there is no good left in the world, you should read Banker to the Poor. Muhammad Yunus takes us through his experience, going from a university teacher to a worker at the grassroots level, lending money to the poorest of village people, to help them get started through offering microcredit loans.
It's a fascinating story, of how an initial $27 helped 42 people get their life back on track again, to break free from the vicious circle of poverty. The Grameen organization has now spread
If you think there is no good left in the world, you should read Banker to the Poor. Muhammad Yunus takes us through his experience, going from a university teacher to a worker at the grassroots level, lending money to the poorest of village people, to help them get started through offering microcredit loans.
It's a fascinating story, of how an initial $27 helped 42 people get their life back on track again, to break free from the vicious circle of poverty. The Grameen organization has now spread and grown to more than just a bank, and reading the book gives a lot of hope, of how one man desiring to do good can actually accomplish it despite everyone and even the system working against him.
The only thing that made me uncomfortable while reading the book was how everything seemed to flow and progress so smoothly. Setbacks and negative experiences were dealt with in one paragraph, and the following success was given much more space. It would have been interesting to read a bit more about the problems and reflections on those experiences. All in all though, it's a very good book and well worh reading.
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If any of you have been wondering why I won't shut up about microfinance, this book will explain it better than I ever could. Muhammad Yunus, recent winner of the Nobel Peace Prize, used his training in economics to provide innovative financial services to the poor. Now being replicated all over the world, his practice of microlending has enabled millions to rise out of poverty.
This is an autobiography of a great man Mohammed Yunus who is also a recipient of Nobel Peace Prize.
This is a story of a miraculous work done by Dr Yunus for the upliftment of downtrodden Bangladeshis through his exceptionally creative Grameen Bank which was a path breaking experiment.
The book also gives glimpses of the contemporary rural society of Bangladesh.
inspiring.a professor outside university. a struggle to work on poverty. a sense of gender out of a man from Moslem's background. a must read.
I wont say that his approach is the best way to help the poor, but one should learn how theory put into practice by Yunus. 30 years of struggling to work with bureaucracy and profit oriented institution. Thirty years! Imagine that.
Dr. Muhammad Yunus is a Bangladeshi banker and economist. He previously was a professor of economics and is famous for his successful application of microcredit--the extension of small loans given to entrepreneurs too poor to qualify for traditional bank loans. Dr. Yunus is also the founder of Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize "for their efforts t
Dr. Muhammad Yunus is a Bangladeshi banker and economist. He previously was a professor of economics and is famous for his successful application of microcredit--the extension of small loans given to entrepreneurs too poor to qualify for traditional bank loans. Dr. Yunus is also the founder of Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize "for their efforts to create economic and social development from below." He has also received several other national and international honors. Dr. Yunus is one of the founding members of
Global Elders
, a group of public figures noted as elder statesmen, peace activists, and human rights advocates whose goal is to solve global problems by using "almost 1,000 years of collective experience" to work on solutions for seemingly insurmountable problems like climate change, HIV/AIDS, and poverty, and "use their political independence to help resolve some of the world's most intractable conflicts."
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“When we want to help the poor, we usually offer them charity. Most often we use charity to avoid recognizing the problem and finding the solution for it. Charity becomes a way to shrug off our responsibility. But charity is no solution to poverty. Charity only perpetuates poverty by taking the initiative away from the poor. Charity allows us to go ahead with our own lives without worrying about the lives of the poor. Charity appeases our consciences.”
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“People.. were poor not because they were stupid or lazy. They worked all day long, doing complex physical tasks. They were poor because the financial institution in the country did not help them widen their economic base.”
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