Which aspect does Mohammed
Yunus emphasize in economics?
Answers
Answer:
Who Is Muhammad Yunus?
Muhammad Yunus is a professor of economics who was awarded the 2006 Nobel Prize in Economic Sciences for his efforts in developing social and economic improvements through microcredit and microloan operations. Most notably, Yunus founded the Grameen Bank, which is known for loaning billions of dollars to impoverished people all over the world.1Muhammad Yunus is an economist, microfinancing pioneer, and founder of the grassroots Grameen Bank, known for loaning billions to impoverished people all over the world.
While teaching economics in his native Bangladesh, Yunus became aware of the extreme poverty in the country and the refusal of banks to offer credit to poor people.
He responded by lending them the money himself, confident that the very poorest could raise their own small business activity and their station with very small loans.
Understanding Muhammad Yunus
Muhammad Yunus is a Bangladeshi economist, best known as the founder of the grassroots Grameen Bank, a financial institution (FI) that provides small loans to poor people without any collateral.
Yunus, who has since gone on to win numerous prestigious awards and accolades for his work, believes that credit is a basic human right. After years of studying and teaching economics academically, he took an active interest in poverty. His goal was to help people escape economic hardship by supplying them with affordable loans and a simple guide to managing their finances.
Over the years, Yunus has also written several books, including: Building Social Business: The New Kind of Capitalism that Serves Humanity's Most Pressing Needs, Banker To The Poor: Micro-Lending and the Battle Against World Poverty, A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment and Zero Net Carbon Emissions, and Creating a World Without Poverty: Social Business and the Future of Capitalism.
History of Muhammad Yunus
Formative Years
Born in Bangladesh on June 28, 1940, Yunus completed his BA and MA at Bangladesh's Dhaka University. After graduating, he taught economics at Chittagong University, before receiving a Fulbright scholarship to study in the United States.