Tag Archives: grameen

Prof. Yunus continues to speak on Social Business

Prof. Yunus continued to speak about his vision of creating social businesses to help address some of the pressing issues facing us. He was hosted by the MIT-Bangladesh Students’ Association and Bhin-Golardho – a Bangla-centric group – during his visit to Boston.

He challenged the youth to start social businesses by saying. “I would like to say that while we at Grameen have done a few things, there are many causes that are waiting for you to take up”

You can read Ranjani Saigal’s write-up of his visit here on Lokvani

Boston Globe interview with Prof. Yunus

Follow up to my post on Prof. Muhammad Yunus, Social Business and the Future of Capitalism. The Boston Globe published an interesting interview with Prof. Yunus while he was in Boston to speak at the MIT commencement. I have excerpted one of the questions below. You can find the rest of the interview in their article online at A really unconventional lender

You have a different view of how capitalism should work. How do you think capitalism should be reformed?

Capitalism is very narrowly defined in the way we practice it. You ignore everything else but money making. And by ignoring the other parts of human beings – concern for other people, concern about the planet, willingness to make a difference in the world – we’ve created a distortion. So I’m suggesting there’s not one type of business model, but two types. One takes care of making money, which can lead to happiness. The other happiness comes from the other type of business, which is to do good to other people. You cover your costs – it’s not charity. Charity money has only one life – once you use it, it goes. Use the money in a social business, then it has an endless life. It’s recycled. It never disappears.

Read the rest of the interview here.

Prof. Muhammad Yunus, Social Business and the Future of Capitalism

Earlier this year, Nobel laureate Prof. Muhammad Yunus was the invited guest speaker at MIT’s 142nd commencement. In his prepared remarks to the students he outlined how he started microcredit thirty plus years ago from a simple desire to free villagers near his university in Chittagong from the penalizing interest that they paid to moneylenders.

Today his organization, Grameen Bank, has grown to cover 7.5 million borrowers in Bangladesh, 97 percent of them women. From this beginning he has expanded to provide services and products in a number of areas ranging from health insurance, to affordable cell phone service with Grameen Phone to renewable energy solutions through Grameen Shakti.

Drawing from his successes with these businesses, Prof. Yunus has refined an overarching social business philosophy that he recently published in his latest book “Creating a World Without Poverty – Social Business and the Future of Capitalism“. Continue reading