Tuesday, September 1, 2009

Micro Finance Introduction

Just finished Muhammad Yunus' book, Banker to the Poor; Micro-Lending and the Battle Against World Poverty. Yunus won the Nobel Peace Prize for his engineering of Micro finance. As a "guy with a business degree" interested in nonprofit work, I thought it prudent to familiarize myself a little more.

A summarizing quote in the final chapter:
"I found myself thinking of ... my very first borrowers, those who were raised to think that they were nobodies, worth nothing, and who had become sudden heroes at this summit. It was those people, with their lives of simple dignity, who had radically changed me from a bird's-eye-view economist, teaching elegant theories in a classroom, to a worm's-eye-view practitioner, helping to introduce real and lasting change into people's lives."

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