Download or read book Banker To The Poor written by Muhammad Yunus and published by PublicAffairs. This book was released on 2007-03-31 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inspirational story of how Nobel Prize winner Muhammad Yunus invented microcredit, founded the Grameen Bank, and transformed the fortunes of millions of poor people around the world. Muhammad Yunus was a professor of economics in Bangladesh, who realized that the most impoverished members of his community were systematically neglected by the banking system -- no one would loan them any money. Yunus conceived of a new form of banking -- microcredit -- that would offer very small loans to the poorest people without collateral, and teach them how to manage and use their loans to create successful small businesses. He founded Grameen Bank based on the belief that credit is a basic human right, not the privilege of a fortunate few, and it now provides $24 billion of micro-loans to more than nine million families. Ninety-seven percent of its clients are women, and repayment rates are over 90 percent. Outside of Bangladesh, micro-lending programs inspired by Grameen have blossomed, and serve hundreds of millions of people around the world. The definitive history of micro-credit direct from the man that conceived of it, Banker to the Poor is the moving story of someone who dreamed of changing the world -- and did.

Download or read book Income Inequality and IQ written by Charles A. Murray and published by A E I Press. This book was released on 1998 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using data from the National longitudinal Study of Youth, argues that intelligence quotient has an important effect on income independent of family background.

Download or read book Credit Markets for the Poor written by Patrick Bolton and published by Russell Sage Foundation. This book was released on 2005-06-30 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Access to credit is an important means of providing people with the opportunity to make a better life for themselves. Loans are essential for most people who want to purchase a home, start a business, pay for college, or weather a spell of unemployment. Yet many people in poor and minority communities—regardless of their creditworthiness—find credit hard to come by, making the climb out of poverty extremely difficult. How dire are the lending markets in these communities and what can be done to improve access to credit for disadvantaged groups? In Credit Markets for the Poor, editors Patrick Bolton and Howard Rosenthal and an expert team of economists, political scientists, and legal and business scholars tackle these questions with shrewd analysis and a wealth of empirical data. Credit Markets for the Poor opens by examining what credit options are available to poor households. Economist John Caskey profiles how weak credit options force many working families into a disastrous cycle of short-term, high interest loans in order to sustain themselves between paychecks. Löic Sadoulet explores the reasons that community lending organizations, which have been so successful in developing countries, have failed in more advanced economies. He argues the obstacles that have inhibited community lending groups in industrialized countries—such as a lack of institutional credibility and the high cost of establishing lending networks—can be overcome if banks facilitate the community lending process and establish a system of repayment insurance. Credit Markets for the Poor also examines how legal institutions affect the ability of the poor to borrow. Daniela Fabbri and Mario Padula argue that well-meaning provisions making it more difficult for lenders to collect on defaulted loans are actually doing a disservice to the poor in credit markets. They find that in areas with lax legal enforcement of debt agreements, credit markets for the poor are underdeveloped because lenders are unwilling to take risks on issuing credit or will do so only at exorbitant interest rates. Timothy Bates looks at programs that facilitate small-business development and finds that they have done little to reduce poverty. He argues that subsidized business creation programs may lure inexperienced households into entrepreneurship in areas where little profitable investment is possible, hence setting them up for failure. With clarity and insightful analysis, Credit Markets for the Poor demonstrates how weak credit markets are impeding the social and economic mobility of the needy. By detailing the many disadvantages that impoverished people face when seeking to borrow, this important new volume highlights a significant national problem and offers solutions for the future.

Download or read book Financial Promise for the Poor written by Kim Wilson and published by Kumarian Press. This book was released on 2010 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: * Balanced assessment of recent savings-led programs in microfinance * Contributors include wide range of scholars and practitioners The entry of the private sector into financial services for the poor is a relatively new development, but already the glossy promises of credit-led microfinance are facing scrutiny from the development community. Policymakers and economists have begun picking through the hype of microfinance to identify where and how top-down loans might fit into broader human development efforts. To many, the answer involves shifting focus to another financial service: savings. Serving as a strong and perhaps more effective tool than microcredit, microsavings is quickly becoming a lauded poverty-alleviation tool. Contributors to Financial Promise for the Poor cover current innovations in microsavings happening around the world. They describe how savings group members in the developing world are avoiding many of the financial liabilities and debt of other microfinance programs while gaining skills and finding opportunities in collective enterprise. The turn from credit to savings speaks to the growing empowerment of individuals and communities as they break the bonds of indebtedness and find their own paths to financial security.

Download or read book Borrowing While Poor written by Brendan D. Dooley and published by . This book was released on 2020 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Millions of chronically poor Americans live on the financial precipice--one dental bill, car repair expense, or abbreviated shift at the plant--away from bankruptcy. A substantive portion of these cases represent minimal credit risks because they merely need an additional sum to keep them afloat until their next paycheck arrives. What is to be done? Payday loans have cropped up across the United States to provide that access, but for a price. Many view the business practice as predatory and have sought ways to regulate the growing industry. Politicians assign the duty of regulating to agencies like the Consumer Financial Protection Bureau because many voters have come to expect that there is a primary duty of government to protect the consumers. Industry insiders press back against the narrative, arguing they provide a much-needed service to a population that traditional banking has ignored. They say the interest rates they earn are not a result of predatory practices but a product of servicing high loans with notably higher default rates and having to absorb much greater operating costs than do typical banks. The case study asks students to consider the advantages and limitations of two potential approaches to resolving the debate. The first outlines various efforts on the part of government to ban payday lending, or to establish rules that amount to a ban on the business through less direct means, such as limiting their profit margin. The second set of alternatives involve a potential middle path. Three alternatives are outlined, which involve establishing a means to access banking through the U.S. Postal Service, imposing modest regulations on the loan payback period, or working within the existing banking structure.

Download or read book Finance Against Poverty Volume 1 written by Hulme David and published by Routledge. This book was released on 2005-08-12 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: In two volumes these books review and expand the theory that poverty in the world's poorest regions could be alleviated by providing small loans to micro-entrepreneurs. Volume 1 provides detailed analysis of this theory and offers policy recommendations for practitioners in this field. Volume 2 presents empirical evidence drawn from comparative experiences in seven developing countries. The work assesses the success of this policy and provides some startling conclusions. This is essential reading for all those interested in development, poverty-reduction, social welfare and finance.

Download or read book Poor country Borrowing in Private Financial Markets and the Repudiation Issue written by Jonathan Eaton and published by . This book was released on 1981 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Just Give Money to the Poor written by Joseph Hanlon and published by Kumarian Press. This book was released on 2012-03 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: * Argues strongly for overlooked approach to development by showing how the poor use money in ways that confound stereotypical notions of aid and handouts * Team authored by foremost scholars in the development field Amid all the complicated economic theories about the causes and solutions to poverty, one idea is so basic it seems radical: just give money to the poor. Despite its skeptics, researchers have found again and again that cash transfers given to significant portions of the population transform the lives of recipients. Countries from Mexico to South Africa to Indonesia are giving money directly to the poor and discovering that they use it wisely “ to send their children to school, to start a business and to feed their families. Directly challenging an aid industry that thrives on complexity and mystification, with highly paid consultants designing ever more complicated projects, Just Give Money to the Pooroffers the elegant southern alternative “ bypass governments and NGOs and let the poor decide how to use their money. Stressing that cash transfers are not charity or a safety net, the authors draw an outline of effective practices that work precisely because they are regular, guaranteed and fair. This book, the first to report on this quiet revolution in an accessible way, is essential reading for policymakers, students of international development and anyone yearning for an alternative to traditional poverty-alleviation methods.

Download or read book Stop Being Poor written by Marc Solomon and published by . This book was released on 2017-04-07 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The crisis of 2008 ruined the savings of many Americans, postponing or degrading the quality of their retirement. After this latest betrayal, we are seemingly left with no safe options for growing what money we can save. On the flip side, after trillions of bank bailouts, individuals, small businesses, and professionals have difficulty getting loans. Fiscal education in our schools-and in the media-is poor and mostly wrong. The financial advice of what worked twenty years ago no longer works. Most of us cannot even imagine how to save money and have access to it when we need it. So we don't. We borrow from banks. We gamble our precious savings on Wall Street. We get trapped for years in student loans and credit card payments. We lose money every year from avoidable taxes, interest charges and fees. Our savings and peace of mind suffers. Our future suffers. There is a better way. It is called Privatized Banking. Yes, you've never heard of it. Privatized Banking is the traditional, American way of saving. Mostly forgotten during the booms (and busts) of the late 20th century, it has never failed in over one hundred years. Through good times and bad, it has always worked. Yes, you really can save with guaranteed growth, with no chance of loss, and have access to cash for all your personal purchases, business financing, and retirement income. It works whether you are starting out on your first job, a business owner, or someone just looking to secure your future. This is not a brand-new gimmick or a "get-rich-quick" scheme, just proven knowledge that the banks, Wall Street, and their friends would rather you not know. Stop Being Poor is a fun, fast read that doesn't require any special experience or education. It has no boring lectures, buzzwords, or sales hype-just a step by step explanation of what you need to know and how to get started.

Download or read book The Global Findex Database 2017 written by Asli Demirguc-Kunt and published by World Bank Publications. This book was released on 2018-04-19 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.

Download or read book How the Other Half Banks written by Mehrsa Baradaran and published by Harvard University Press. This book was released on 2015-10-06 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has two separate banking systems today—one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities—all thanks to deregulation that began in the 1970s and continues decades later. “Baradaran argues persuasively that the banking industry, fattened on public subsidies (including too-big-to-fail bailouts), owes low-income families a better deal...How the Other Half Banks is well researched and clearly written...The bankers who fully understand the system are heavily invested in it. Books like this are written for the rest of us.” —Nancy Folbre, New York Times Book Review “How the Other Half Banks tells an important story, one in which we have allowed the profit motives of banks to trump the public interest.” —Lisa J. Servon, American Prospect

Download or read book Debt Free Degree written by Anthony ONeal and published by Ramsey Press. This book was released on 2019-10-07 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Every parent wants the best for their child. That’s why they send them to college! But most parents struggle to pay for school and end up turning to student loans. That’s why the majority of graduates walk away with $35,000 in student loan debt and no clue what that debt will really cost them.1 Student loan debt doesn’t open doors for young adults—it closes them. They postpone getting married and starting a family. That debt even takes away their freedom to pursue their dreams. But there is a different way. Going to college without student loans is possible! In Debt-Free Degree, Anthony ONeal teaches parents how to get their child through school without debt, even if they haven’t saved for it. He also shows parents: *How to prepare their child for college *Which classes to take in high school *How and when to take the ACT and SAT *The right way to do college visits *How to choose a major A college education is supposed to prepare a graduate for their future, not rob them of their paycheck and freedom for decades. Debt-Free Degree shows parents how to pay cash for college and set their child up to succeed for life.

Download or read book Portfolios of the Poor written by Daryl Collins and published by Princeton University Press. This book was released on 2009-04-20 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nearly forty percent of humanity lives on an average of two dollars a day or less. If you've never had to survive on an income so small, it is hard to imagine. How would you put food on the table, afford a home, and educate your children? How would you handle emergencies and old age? Every day, more than a billion people around the world must answer these questions. Portfolios of the Poor is the first book to systematically explain how the poor find solutions to their everyday financial problems. The authors conducted year-long interviews with impoverished villagers and slum dwellers in Bangladesh, India, and South Africa--records that track penny by penny how specific households manage their money. The stories of these families are often surprising and inspiring. Most poor households do not live hand to mouth, spending what they earn in a desperate bid to keep afloat. Instead, they employ financial tools, many linked to informal networks and family ties. They push money into savings for reserves, squeeze money out of creditors whenever possible, run sophisticated savings clubs, and use microfinancing wherever available. Their experiences reveal new methods to fight poverty and ways to envision the next generation of banks for the "bottom billion." Indispensable for those in development studies, economics, and microfinance, Portfolios of the Poor will appeal to anyone interested in knowing more about poverty and what can be done about it.

Download or read book The Money Book for the Young Fabulous Broke written by Suze Orman and published by Penguin. This book was released on 2005 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: From one of the worlds most trusted experts on personal finance comes a "route planner," identifying easy moves to get young people on the road to financial recovery and within reach of their dreams.

Download or read book Mastermind written by Maria Konnikova and published by Penguin. This book was released on 2013-01-03 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestselling guide to thinking like literature's greatest detective. "Steven Pinker meets Sir Arthur Conan Doyle" (Boston Globe), by the author of The Confidence Game. No fictional character is more renowned for his powers of thought and observation than Sherlock Holmes. But is his extraordinary intellect merely a gift of fiction, or can we learn to cultivate these abilities ourselves, to improve our lives at work and at home? We can, says psychologist and journalist Maria Konnikova, and in Mastermind she shows us how. Beginning with the “brain attic”—Holmes’s metaphor for how we store information and organize knowledge—Konnikova unpacks the mental strategies that lead to clearer thinking and deeper insights. Drawing on twenty-first-century neuroscience and psychology, Mastermind explores Holmes’s unique methods of ever-present mindfulness, astute observation, and logical deduction. In doing so, it shows how each of us, with some self-awareness and a little practice, can employ these same methods to sharpen our perceptions, solve difficult problems, and enhance our creative powers. For Holmes aficionados and casual readers alike, Konnikova reveals how the world’s most keen-eyed detective can serve as an unparalleled guide to upgrading the mind.

Download or read book Banker To The Poor written by Muhammd Yunus And Alan Jolisby Muhammad Yusus and published by Penguin Books India. This book was released on 2007-06-15 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: &Lsquo;It&Rsquo;S Not People Who Aren&Rsquo;T Credit-Worthy. It&Rsquo;S Banks That Aren&Rsquo;T People-Worthy&Rsquo; &Mdash;Muhammad Yunus Muhammad Yunus, Winner Of The Nobel Peace Prize In 2006, Set Up The Grameen Bank In Bangladesh To Lend Tiny Sums To The Poorest Of The Poor, Who Were Shunned By Ordinary Banks. The Money Would Enable Them To Set Up The Smallest Village Enterprise And Pull Themselves Out Of Poverty. Today, Yunus&Rsquo;S System Of &Lsquo;Micro-Credit&Rsquo; Is Practised In Some Sixty Countries, And His Grameen Bank Is A Billion-Pound Business Acknowledged By World Leaders And The World Bank As A Fundamental Weapon In The Fight Against Poverty. Banker To The Poor Is Yunus&Rsquo;S Own Enthralling Story: Of How Bangladesh&Rsquo;S Terrible 1974 Famine Underlined The Need To Enable Its Victims To Grow More Food; Of Overcoming Scepticism In Many Governments And In Traditional Economic Thinking; And Of How Micro-Credit Was Extended Into Credit Unions In The West.

Download or read book When Helping Hurts written by Steve Corbett and published by Moody Publishers. This book was released on 2014-01-24 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: With more than 450,000 copies in print, When Helping Hurts is a paradigm-forming contemporary classic on the subject of poverty alleviation. Poverty is much more than simply a lack of material resources, and it takes much more than donations and handouts to solve it. When Helping Hurts shows how some alleviation efforts, failing to consider the complexities of poverty, have actually (and unintentionally) done more harm than good. But it looks ahead. It encourages us to see the dignity in everyone, to empower the materially poor, and to know that we are all uniquely needy—and that God in the gospel is reconciling all things to himself. Focusing on both North American and Majority World contexts, When Helping Hurts provides proven strategies for effective poverty alleviation, catalyzing the idea that sustainable change comes not from the outside in, but from the inside out.