Microcredit is a financial innovation that is considered to have originated with the Grameen Bank in Bangladesh, and Muhammad Yunus is its founder. This Bank offers collateral free loan to rural poor women. Women are afforded the opportunity of education and access to health care, reduced unemployment, so that their families and communities prosper. The future of the Microcredit is very bright now because it plays an important role for the development of poor families. This system is being introduced in both developing and developed countries of the world. The relationship between Muhammad Yunus’s Grameen bank and women’s lives is important because he helps poor women to be independent and economically support their family. Because of microcredit women are free to earn a living and start small businesses; they become drivers of economic growth.
Muhammad Yunus is an economist from Chittagong University and was born in 1940 in Chittagong, Bangladesh. He was the third of nine children of his parents and educated in Chittagong. He was awarded a Fulbright scholarship and received his Ph.D. from Vanderbilt University, Nashville, Tennessee. In 1972 he became head of the Economics Department at Chittagong University. He is the founder and managing director of the Grameen Bank. In 1997, Professor Yunus led the world’s first Micro Credit Summit in Washington, DC. Muhammad Yunus’s project has grown to serve a total of seven million families in Bangladesh with loans, totaling six billion dollars. There are over 250 institutions in100 countries that operate off Grameen micro-credit principles (Biography). Yunus developed his revolutionary micro-credit system with the belief that it would be a cost effective and scalable weapon to fight pover...
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Peter Singer’s article, “The Singer Solution to World Poverty”, highlights the need to prevent absolute poverty in developing countries. An estimate of one billion people live in “a condition of life characterized with malnutrition, illiteracy, disease, squalid surroundings, high infant mortality and low life expectancy” according to Wesley Bagby (pp. 29). As a victim of Sudan’s civil war and a former refugee, I totally understand what it means to be homeless and street child. The hardship endured by homeless and street children on a daily basis is unbelievable; a day without food to eat, a day without clean water to drink, a day without shelter, a day without cloth, a day without medical care, and a day without security. There is no doubt that a
Journalist, Patricia Cohen, in her New York Times article, writes that millions have managed to lift themselves out of the poverty in the past year. Cohen’s purpose is to inform and convince readers that indeed poverty levels have declined despite that millions across the country are still heavily affected by the 2008 Recession. She adopts a sympathetic and informative tone in order to transmit upon her readers the idea that the economy is not perfect but it is in fact improving. Cohen establishes a strong ethos by including anecdotes of success stories, she supports her argument with a significant use of logos through statistical figures as well as graphs in order to assure her readers that unemployment has definitely declined.
“Global poverty is the scourge and disgrace of our affluent era” (Smith 13). Eradicating extreme poverty has always been one of the greatest challenges in the world. In fact, today poverty has become a major concern for several nations. According to Stephen C. Smith, the author of book Ending Global Poverty: A Guide to What Works, ending poverty would require eight crucial keys to escape poverty traps; to provide health and nutrition for adults to work and children to grow to their potential, provide basic education to build the foundations for self-reliance, to provide credit and basic insurance for working capital and defense against risk, to allow access to functioning markets for income and opportunities to acquire assets, to allow access to new technologies for higher productivity, to provide a stable environment to ensure sustainable development, to provide personal empowerment to gain freedom from exploitation and to empower all communities to ensure effective participation in the wider world. Thus, the purpose of this paper is to examine the term, concept, and the theoretical perspectives about poverty that are represented by Stephen C. Smith as well as presenting aspects of the issue that I wish Smith had addressed, an emphasis of questions that the author leaves unanswered will be presented, and finally an exhortation on how believers should think about the issue and how believers should respond to the issue viewed in a cognitive, affective and behavioral perception.
...ng into the other factors that would constitute poverty in Cairo’s informal settlements, like the lack of basic services like education and transportation as well as the lack of sanitation and healthcare, we were forced to look into the emergence of these informal settlements as possibly an effect of rural inequality. However, regardless of the truth behind the levels of poverty in Cairo, public perception of poverty as ruralisation of the cities, seems to have linked the ideas of poverty, overcrowding, crime and violence to each other, leading to an increasing divide between the rich and the poor. The rich are forming their own gated communities in an attempt to protect their lifestyles that are in fact maintained by service by the poor, creating a dysfunctional society. It also appears that the government seems to be doing little to mend this ever growing rift.
Microcredit, as described by Isserles, is a development “scam” which destroys the lives of Third World peoples. To her, these small loans falsely identify women, and others, as being worthy of credit, but the agreement’s terms subjugate them to continued financial dependency on microcredit loans. The First world hails this program as a success because aid is just a handout while microloans are a way of creating self-reliance through the market. Isserles states that the market becomes the solution to the “temporary” state of poverty, and this idea is due to a disconnect between the First World and the Third World. Projects claim to support women through finance, yet they refuse to alter the labor and domestic conditions of women across the world.
In the book: Creating a World Without Poverty, Muhammad Yunus expresses his ideas in solving the world's social problem. He explains his view in helping end poverty with the help on the potential of technology.Not only the global poverty that he wants to end but the problems which involves lack of focus to health care and education, gender discrimination, and inequality. He is looking forward to a more fair society for all.
This topic about helping poor people get out of poverty is a critical issue. Almost 800 million people across the globe, most of them children, live with hunger or malnutrition as a regular fact of life. They live in desperate poverty, which means they die younger than they should, struggle with hunger and disease, and live with little hope and less opportunity for a life of dignity (USCCB). Poverty poses a dramatic problem of justice; in its various forms and with its various effects, it is characterized by an unequal growth that does not recognize the "equal right of all people to take their seat ‘at the table of the common banquet' (Social Doctrine of the Church) ."
Women all over the world suffer from poverty and unfair treatment. Almost half of these women in poverty come from Africa, being paid barely a dollar a day. These women can barely feed themselves let alone their family. In order to feed and take care of their family they need micro-loans to either start a business and continue their business. Women are not empowered by micro-loans because of gender-based division of labor, their husbands and men in their family, and the women being shamed for not being able to repay the loan and be in debt.
Next, Herbert J. Gans’ essay, “The Uses of Poverty: The Poor Pay All”, is extremely important in the analysis of the frontline documentary. Gans has a bit of a different approach on poverty and the poor. For example, he says, “Today, poverty is more maligned than the political machine ever was; yet it, too, is a persistent social phenomenon.” Basically, he argues that the poor are a very important part in society. He goes on to explain different functions of poverty. First, he states that the existence of poverty ensures that society’s dirty work will be done. Society in some ways forces the poor to do these jobs because they almost always don’t have the choice, and they make them do these at low wages. This was one of the hard things
Although Yunus is an economist by profession and his microfinance project does sound as an economic move, nevertheless the scope of it is much wider than targeting finances alone. He has a long term vision to eliminate poverty around the world and provide a better quality of life for those who are less fortunate and deprived of some secure financial background. Since he feels like every person on this planet has an equal right to get a chance to improve her/his life, nevertheless her/his background, we could say that his vision goes far beyond providing the loans – he strives to
Overall, microcredit has helped millions of people around the world and it continues to have a great impact on poor people, informing them that all they need is a little ‘push’ or start-up money to begin creating a better life and subsequently a better community. Each organization has its own goals and purposes depending on the country where they reside as well as different challenges that have appeared. Microcredit is helping poor people and small business owners to better themselves as well as to their families and have their time, skills, and ideas utilized in an effective and positive way.
As one of the biggest problems facing the world today, poverty continues to have significant negative implications for the society. The effects of poverty are extremely severe and far-reaching, so much so that it was one of the top Millennium Development Goals agreed upon at the Millennium Summit of the UN back in 2000 (Hatcher, 2016). To understand the effects that poverty has on the society, one must critically analyze the societies in which poverty is rampant, as well as analyze poverty from the relative perspectives that it presents. The core aim of this paper is to develop a holistic understanding of poverty and elaborate on the diverse ways in which it continues to affect societies across the world.
Poverty is a major problem in the United States today. Social, economical, political, and cultural factors all contribute to poverty. Education and economic development are two major issues that will help prevent poverty. The United States Census Bureau defines poverty as an "economic condition in which people lack sufficient income to obtain basic needs for food, housing, clothing, health services and education." In other words, poverty is powerlessness, a lack of representation and freedom. Poverty is an issue that the world faces everyday.
As developed countries quench their thirsts for petrol, developing countries around the world are left behind, force to watch on without any help from the outside community. Being poor means to be disadvantaged in every single way. It means not being able to support yourself or your family or have the basic necessity to life. Without substantial help for these helpless people then we should be feeling guilty that we are living lives far better than what others are experiencing. Poverty may because by wars, disease or lack of education and infrastructure and the resulting consequences may be hunger, starvation, crime and ultimately death. If poverty is not eradicated then injustice will continue, increasing death tolls and lives.
Microfinance refers to provision of financial services to poor or low-income clients, including consumers and self-employed.in other words, it refers to a movement that envisions “a world in which as many poor and near-poor households as possible have permanent access to an appropriate range of high quality financial services, it includes not just credit but also savings, insurance, and fund transfers.”. Promoter’s microfinance generally believes that such access will help poor people out of poverty.