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The Author Speaks In wrinkle organization for All Interview with Muhammad Yunus, author of  meander Social Business: The fresh Kind of Capitalism That Serves Humanitys most(prenominal) printing press Needs by: Art Dalglish | from: AARP air | July 29, 2010 It every(prenominal) started with a afford of $27. In 1974, Muhammad Yunus was an economicals professor atChittagong University in Bangladesh when a combination of war, indwelling disasters and an international oil crisis toppled his region into a devastating famine. How could he simply teach bonny theories of the emancipate market, he thought, epoch hunger and poverty menace the lives of millions? Venturing into the countryside to prove with societal programs, he engraft a muliebrity in the village of Jobra who was espousal from a local shylock to finance her tiny business handcrafting bamboo stools. But she could borrow solitary(prenominal) at a really high interest tread and by agreeing to sell her sour to the lender at a scathe he set, divergence her with almost no profit. Yunus and his students found a total of 42 villagers trapped in the same lovely of arrangement. He realised that he could release all of them from their economic bondage by reaching into his pocket for the akin of $27 and paying glum all their loans.

Inspired by this example, Yunus created Grameen brim to stool low-interest loans to the poorest of the poor, pack with no collateral or recognition history. Today it serves more(prenominal) than 8 million people-97 part of them women-in every(prenominal) village in Bangladesh, extending more than $100 million a month in loans averaging around $200. Grameen is also helping to balmy the idea known as microcredit throughout the world-and in 2006, Yunus and the raise were awarded the Nobel Peace Prize for their accomplishments. pursuit new ways for the mogul of the market to help the poor, Yunus land on the concept of genial businesses. These companies operate like any(prenominal) other, competing in the marketplace to touch on a profit, with two largish exceptions: The investors agree not...If you want to contribute a full essay, identify it on our website: Orderessay

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