"Banker to the Poor" sets a great example for the rest of the world leaders

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	• Banker To The Poor: Micro-Lending and the Battle Against World Poverty Muhammad Yunus PublicAffairs, 2008 - 312 pages average customer review:based on 77 reviews view larger image
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highly recommended

One man proved that western banking is not the most efficient

Dr. Yunus in this book chronicles the hurdles that he and the workers of the Grameen bank had to overcome. The book is a very good explanation of the economic model that he created to help the poor of his country Bangladesh.

Their is a wonderful critique of the economic models that the World Bank and many other like organizations use. The greatest part of the whole story is that the facts of the Grameen bank prove Dr. Yunus's economic model. It also shows that his model is more efficient than the mainstream models that are out there.

Everyone needs to read this book, it not only provides a solution to world poverty, but it also provides a framework for one's own community to increase its economic prosperity. All this has been done without any kind of welfare type program.

Dr. Yunus's idea that the government needs to promote a system where volunteer can be awarded high honors for their work is a wonderful idea.

Although a not a complex book on economics, it is still a profound work that needs to be read by economists, bankers, politicians, laymen and everyone else.

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"Banker to the Poor" sets a great example for the rest of the world leaders

In this world of anarchy and chaos, one wonders why aren't the leaders of today utilizing the path Mo Yunus took to change the world around him. This book serves as a great mentor and guide to all those who believe in making a change and creating a difference with their intellect, passion, perserverance and relationships. I wish that all the poor countries in the world gain some ideas from Mr. Yunus. A very engrossing read. You have to finish the book to read through Mr. Yunus's journey in its entirety. The book is simple, sweet and takes you through all the cities and towns of Bangladesh, gives you an insight into the mindsets of both men and women of that society...the struggles, the pains, the successes and the accomplishments. As a reader, I truly wished and prayed that there are many more men and women out there in the world with Mo Yunus's spirit.

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The $27 Miracle

I bought this book because I had already read a library copy, and had to have my own. I remember hearing about this remarkable man and his work in the 70's, but to read the whole story, and to know how far his hard work has brought the cause of really helping the poorer than poor was so inspiring. It has engaged me and my family so much so that most of our Christmas giving has been to this cause. I consider it a blessing.

Some great ideas, but . . .

As with many people who review the poverty issue, Dr. Yunus has some great ideas. His microfinance ideas are very useful and should be part of aid packages and promoted by the World Bank.

However, it is not the panacea that he sees to ameliorate the world's poverty. This winter's Wilson Quarterly showed that a large part of the microloans made go not toward business but towards home improvement and schooling. Yunus' Grameen Bank has addressed this through creating special loan packages for these purposes. Yet the availability of credit to the poorest of the poor is a great innovation that must be recognized.

Yunus does fall into the usual trap of specialists where their specialty is all we should pay attention to. Hernando de Soto is the same with his opening the bell jar of property, and Sachs argues for spending in his own pet projects.

Additionally, Yunus is quite full of himself. his detracts from the quality of the book as well. However, it is a good read and will make you want to put micro finance on the list of options: 3 and a half stars.

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Ever sat with a Nobel Prize winner? Ever had a conversation with a saint?

Reading Muhammad Yunus' book, Banker to the Poor, is as close to that as you need to open your eyes to the possibility of a world where poverty is history. This man presents his extraordinary accomplishments and contribution in such a humble, first-person, and, straightforward manner that you cannot help but be moved to think about what each of us can do to make the world we live in a better place. Truly an inspiration!

The first fifth of the book tells the story of his youth growing up in the turbulent period bridging World War II, Indian independence, Pakistani independence and finally the Bengali struggle for independence from Pakistan. Yunus finds himself a U.S. educated economist back in his homeland to teach university when famine hits the country and shakes his faith in traditional economics. He seeks out to tackle understanding the problem of poverty, from the perspective of the poor rather than looking down form the Ivory Tower or down a Social Darwinist nose. What he finds is not a lack of skills, motivation and human ingenuity but rather a lack of access to capital and credit - essentially a failure of the market, rather than a failing on the part of its victims. Yunus goes about conducting an experiment, lending $27 from his own pocket to 42 villagers for various small-scale ventures and cottage industries. His efforts bear fruit and snowball from there, microcredit is born. The story from then on is about how he single-mindedly and judiciously builds on the early successes and incorporates a philosophy of empowerment and deferring to the skills of his staff and especially his clients. Among the poorest of the poor, Yunus finds an incredible fountainhead of innovation and motivation whereby people, if given the chance, pull themselves up by their bootstraps.

Many of Yunus' approaches break with tradition and taboo, for example, lending primarily to women, though he is Muslim and operating in a traditional rural context. Likewise, his philosophy and politics do not fit neatly in the typical Left and Right framework - he seems above the divide and willing to borrow or discover what works without regard to ideological boundaries - bearing flak from the Leftist rebels and derision from the banking establishment.

Ok, enough said - go get the book, thank me later.

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