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Summary:
In the last two decades, free markets have swept the globe. But traditional capitalism has been unable to solve problems like inequality and poverty. In Muhammad Yunus’ groundbreaking sequel to Banker to the Poor, he outlines the concept of social business—business where the creative vision of the entrepreneur is applied to today’s most serious problems: feeding the poor, housing the homeless, healing the sick, and protecting the planet. Creating a World Without Poverty reveals the next phase in a hopeful economic and social revolution that is already underway.
Customer Reviews:
Average Customer Rating:
Yogurt Power
Customer Rating:
Visionary, practical, and desperately needed. This book is the product of a brilliant mind and a kind heart. For those who are jaded by news stories of boundless greed in the for-profit world, here is a revolutionary proposition. Well done, Professor Yunus! A fascinating read, which would make an excellent textbook for every business school on the planet. The story of Grameen Danone's joint venture to improve the nutrition of Bangladeshi children is profoundly touching. There is another gem woven into the chapter "Putting Poverty in Museums" (location 2700 in the Kindle version): an ingenious social business idea to provide affordable health insurance to all Americans who are uninsured.
Heralding a Vision
Customer Rating:
That which was most important for me in this book is, that the writer gives voice to a vision that he has held close to his heart for presumably decades. It is the vision of a poverty free world.
Building on the impact of the 2006 Nobel recognition of the enormous effort over half a lifetime, involving the several Grameen institutions, he spells out his long held vision of a world, "where poverty is relegated to the museums of the world". In this book, he makes a strong case for how this goal is fully realizable with our present day resources and why work on this particular project should be given high priority, so that everybody has a fair chance to achieve their highest potential. Further, the reader is extolled to come forward with her/his own vision of the future, so that the best of all worlds can come together and serve as a beacon for even further progress.
A basic building block of this vision is the concept of a social business. It is a business that pays no dividends. Products are sold at prices which make them self sustaining and all profits stay in the organization and used to finance expansion, create new products or services, and, in general, benefit society at large. To this effect, the author recounts how the concept of the social business was first tested with the collaboration of the Grameen in Bangladesh with the French Danone concern to produce a yoghurt called "Shokti Doi", a product designed to provide proper nourishment to children living in poverty.
The author provides a detailed account of the various ramifications of the Grameen organizations, and there are many, healthcare, telecom services, information technology, education and textiles, to name a few. In his conclusion, the author gives a detailed discussion of how his ideas on microcredit have been implemented all over the world and the benefits and pitfalls that have resulted in their wake. As Prof. Yunus himself puts it, "God is in the details". A chapter on the "hazards of prosperity" in developed countries with welfare is also included.
For me, a novice, the book has been a joy to read. One feels tremendous respect for the man, his creativity, his scholarship, and above all, his superhuman self confidence in refusing to accept financial help from funding agencies and go his own way, despite intense pressure from the government. This man is an institution by himself and that sheen of aura surrounds this book, the very theme of a professor of economics who shows hardened bankers and heads of financial institutions where to put their money is just too good to be true. Then, of course, there are the genuine experts, who may have genuine disagreements with some of the concepts put forward.
I strongly recommend the book if only to open up a window to a wide vista of possibilities.
Inspirational! Covers the Grameen Bank story, but then moves into the future, defining "social business"
Customer Rating:
Inspirational! Covers the Grameen Bank story, but then moves into the future, defining a third alternative to the false choice of for-profit vs non-profit: "social business", which combines the best features of both for- and non-profits. A must read for social entrepreneurs in general, and those interested in microfinance in particular.
Soft, but interesting
Customer Rating:
I'm still trying to figure out if Grameen is as good as they publicize themselves to be. As for the book. Certainly, some interesting ideas, but relatively few profound ideas. It feels lacking in real execution value.
The Right Way
Customer Rating:
Empirical evidence that just throwing money at a social problem isn't the best solution. Micro-financing is an amazing concept. Great book.
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