Creating a World Without Poverty

Good point, Laura. I have no idea if there is any control mechanism, a way to make sure that the credit really IS invested in business. So far, none of the books on the topic seems to mention that.

I really enjoyed this read, it shares some of the ideals of a social business model I am working on. The statistics on global poverty are so staggering, I for one, can longer turn a deafened ear. This is the second piece I stumbled upon this week alone, of similar content. I am further inspired by knowing there are more. Many of us are awakening to higher aspirations than the pursuit of wealth. As we are living through our economic downturn we are also more cognizant of what truly matters. Not just for our own households but for others and for our future on this planet.

I do not believe it takes large numbers to solve large problems. Though I believe it is often why we are instead prone to look away. The issues appear too large to resolve, individually. However, I rather like the idea of small contributions, made by many, as a potential way to deal with our larger problems. Nearly everyone of us, has something to give, even if it's just a little bit - as in the case of this story and the $27 loan, especially the majority of us in developed nations.

I have a hard time knowing that a feature film release earns $500+ million dollars for (2 hours) entertainment, while 2.6 billion people are struggling to live daily on less than the cost of a latte! (Tim Jackson)

Something's Gotta Give! I'm ready, how about you?

I wanted to respond to J. Duly's comment above just to note that our upcoming Abstract, "Rice Wine with the Minister" also touches upon the concept of "Ubuntu" when it compares individualistic societies and collective societies. That should be online this month (December 2010). Coming up next year, we have Yunus' next book where he goes into some of the issues raised here, including the practical work and accomplishments of microfinancing as one way to fight poverty. He agrees with Bhavesh Vora (above) that no specific kind of initiative can eliminate poverty on its own and discusses the role this approach can play. (– Managing Editor, getAbstract)

As long as there is a differential between what one person has and what another has poverty will be viewed as being with society. Whether that differential is based on location, education, ability or desire to work, age or gender someone will view a one person or group as being poor and others rich. Someone in the United States making some given level of income who is viewed as poor would be considered rich in Africa for example in comparision to their neighbors. Poverty will be with us unless every person in the world has exactly the same amount of wealth. That seems to imply those that won't work should be equal in wealth to those that want to achieve and rise to a higher level. That certainly wouldn't be a great society to live in.

Poverty is wealth created by God. Poverty in one state is wealth in another state. If the world was one state, then there'd be like minds and constant repulsion rather than attractive innovation. The means to an end for CSR comprise financial, social and environmental. All of this demise would not exist had poverty not exist. All factors therefore play a very configurative role towards the eradication of poverty. That poverty would someday exist only in the museum is yet another dilemma in the world of collective thoughts based on 'human jurisprudence'. It is however imperative to add that justice must prevail with ethical considerations and so as human beings, we cannot indulge in selfish attitudes by eliminating ourselves from our environment. To help others gain independence, we are certain to join in the war to help create a world without poverty.

From my stand point, Nobel Peace Prize winner Muhammad Yunus in this book presents a new concept: social business, blocks to poverty alleviation, and their uplifting through social business as against capitalism. What is the purpose of life and entrepreneurship if it can not benefit societies at large? Forward-thinking business leaders should actually tap this invaluable information; getting it live from someone with hands-on experience gives added value to the concept. This concept challenges the capitalist myth which says that “For conventional businesses, social responsibility eventually results in financial irresponsibility.” Furthermore, it is supposed that everything can be put under control by conventional systems. Muhammad Yunus informs through this book that even the most organized governments are vulnerable to bureaucracy, corruption, inefficiency and control by powerful interest groups and that Governments alone cannot solve the problem of poverty. Social business, his proposed solution, certainly has solid backing especially as it stems from live experience. Multilaterals and Nonprofit organizations on their part could be efficient in poverty alleviation if they seized from being selfinterested or if funds will flow even in difficult times, precisely when the poor are in the greatest need. Social Businesses have as main business motive not to make money but rather to provide a social benefit. They reinvest their profits in expansion, so they can benefit more people. Through the Grameen Bank and …, Yunus set up a legitimate mechanism to enable the poor in Bangladesh escape the grip of the Moneylenders and climb out of poverty based on the fact that poor people are a good credit risk…Moreover, an endeavor to defend the social business concept is his joint venture model with Groupe Danone which is that of a social business, which sells products, reinvests profits in the enterprise and pays no dividends to investors. This involves “thinking small”, a novelty that leads the multinationals to discover that a small plant can operate as cost effectively as a large one with valuable prospects. It is comforting to know that through Social Business the end of poverty is within reach. The poor are not poor because of deficiency of character or unwillingness to work hard. They are poor because institutions and regulations that work for the wealthy do not work for them. This is a big challenge to Capitalism which gives businesses no incentive to serve the poor and great incentive to exploit them. Yunus suggests through experience that the structures and approaches of profit-making businesses can be applied in the service of socially beneficial objectives. Finally, “Social business can take great ideas out of the realm of fantasy and turn them into reality. Social business, with its emphasis on careful accounting for social benefits, can make development without environmental destruction possible. The day may come when people will have to go to museums to learn about poverty.”

From my stand point, Nobel Peace Prize winner Muhammad Yunus in this book presents a old concept
yes i mean it and most of us can now that if we appliedd the concept of religions because i think most of religions speak about poors and help them ,for example ISLAM aske about this and there are many way to do it if any one cant understand it from god books or do not know how to apply then:
Muhammad Yunus give us practical way and method to do but the question :
who and how many can apply