Muhammad Yunus on Capitalism | Big Think

April 24, 2012
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Big Think
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Muhammad Yunus on Capitalism | Big Think

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Muhammad Yunus on Capitalism

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Micro-finance guru Muhammad Yunus wants to improve free markets.

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Muhammad Yunus:

In 1974, Professor Muhammad Yunus, a Bangladeshi economist from Chittagong University, led his students on a field trip to a poor village. They interviewed a woman who made bamboo stools, and learnt that she had to borrow the equivalent of 15p to buy raw bamboo for each stool made. After repaying the middleman, sometimes at rates as high as 10% a week, she was left with a penny profit margin. Had she been able to borrow at more advantageous rates, she would have been able to amass an economic cushion and raise herself above subsistence level.Realizing that t...

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