Creating a World Without Poverty

Dr Muhammad Yunus

Economics

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WHAT IF YOU COULD HARNESS THE POWER of the free market to solve the problems of poverty, hunger and inequality? To some, it sounds impossible. But Nobel Peace Prize-winner Muhammad Yunus is doing exactly that. As founder of Grameen Bank, Yunus pioneered microcrdit, the innovative banking program that provides poor people-mainly women-with small loans they use to launch businesses and lift their families out of poverty. In the past thirty years, microcredit has spread to every continent and benefited over 100 million families. But Yunus remained unsatisfied. Much more could be done, he believed, if the dynamics of capitalism could be applied to humanity's greatest challenges. Now, in Creating a World Without Poverty, Yunus goes beyond microcredit to pioneer the idea of social business-a completely new way to use the creative vibrancy of business to tackle social problems from poverty and pollution to inadequate health care and lack of education. This book describes how Yunus-in partnership with some of the world's most visionary business leaders-has launched the world's first purposely designed social businesses. From collaborating with Danone to produce affordable, nutritious yogurt for malnourished children in Bangladesh to building eyecare hospitals that will save thousands of poor people from blindness, Creating a World Without Poverty offers a glimpse of the amazing future Yunus forecasts for a planet transformed by thousands of social businesses. Yunus's "Next Big idea" offers a pioneering model for nothing less than a new, more humane

Dr Muhammad Yunus

Dr. Muhammad Yunus born 28 June 1940 is a Bangladeshi economist, entrepreneur, civil society leader and statesman who has been serving as the fifth chief adviser of Bangladesh since 8 August 2024. Yunus pioneered the modern concept of microcredit and microfinance, for which he was awarded the Nobel Peace Prize in 2006 as the first Bangladeshi to win the Nobel Peace Prize and he is also the founder of Grameen Bank. Born in Hathazari, Chittagong, Yunus passed his matriculation and intermediate examinations from Chittagong Collegiate School and Chittagong College, respectively. He completed his BA from University of Dhaka and joined as a lecturer in Chittagong College. He obtained his PhD in economics from Vanderbilt University in the United States. After the devastating famine of 1974, Yunus started to work on poverty elevation in Bangladesh. He began experimenting with microfinance in the late 1970s. In 1983, the Grameen Bank was established. The success of the Grameen microfinance model inspired similar efforts in about 100 developing countries and even in developed countries including the United States. Yunus was awarded the Nobel Peace Prize in 2006 for founding the Grameen Bank and pioneering the concepts of microcredit and microfinance. Yunus has received several other national and international honors, including the United States Presidential Medal of Freedom in 2009 and the Congressional Gold Medal in 2010.