The Micro-Lending Revolution with Muhammad Yunus & Alex Counts

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Founder of the Grameen Bank in his native Bangladesh, Muhammad Yunus is a financial pioneer who has loaned over two billion dollars to over three million people with no money or collateral. They have all paid him back. He tells us, "Those who could prove they had nothing got the highest priority. We didn't ask for certificates, introductions or identification. The fact that they were human beings was enough for us." Not only has the Grameen Bank helped millions of people cross the poverty line, it has done so by charging a commercial rate of interest and even making a profit. And what it has done for people's spirits is beyond measure. Alex Counts joins Yunus in showing us how we can counteract the greed of many major corporations by creating socially directed businesses that are every bit as profitable (if not more so). Both men feel that by creating the right kind of institution and changing our mindset, there is no reason we cannot totally eliminate poverty in the world today. (hosted by Michael Toms)

Bio

Professor Muhammad Yunus established the Grameen Bank in Bangladesh in 1983 and, along with the Grameen Bank, he was the recipient of The Nobel Peace Prize in 2006.

He is author of many books including:

  • A World Without Poverty: Social Business and the Future of Capitalism (Public Affairs; 2008)

Counts is the author of:

  • Give Us Credit: How Muhammad Yunus's Micro-Lending Revolution is Empowering Women from Bangladesh to Chicago (Times Books 1996)

To learn more about the work of Muhammad Yunus go to www.muhammadyunus.org.

Topics Explored in This Dialogue

  • How lives are transformed by loans of $15 to $20
  • How self-employment can help people gain more confidence and control in their lives
  • How computers, phones and the Internet empower the people of Bangladesh
  • The distinction between socially responsible and socially-directed business
  • How to eliminate poverty in the world today
  • How you can get involved
  • The power of your thoughts to create the kind of world you want
Host: Michael Toms              Interview Date: 11/8/1997             Program Number: 2678