Blog 2

I really enjoyed reading about Yunus’ ideas in The Banker to the Poor. I am really amazed how such a simple idea can change the lives of many. I liked that when coming up with the process upon which to run the Garmeen Bank, that he wasn’t afraid of failing and that he didn’t give up until he found a solution to helping the poor have better lives. I thought that only giving loans to women was a bold step for him to take, but one that was wise, and in doing so this helped the entire family, which might not happen if the loan was given to the male of the household. I was surprised at first, not knowing much about economics, when he mentioned that the interest rate was 20%, but further explained I realized that this wasn't as bad and i had thought and that this actually was necessary to keep giving out more loans. In Creating a World Without Poverty Yunus talked about all the other different Garmeen companies that have been started with the same philosophy in mind. Providing healthcare to the poor at very minimal price is an outstanding idea. The way he was adapting the clinics to what the culture needed, like more women healthcare providers to give the women clients more peace of mind, is really helping the root of the problem for most of the poor.

I think the main idea that Yunus wants to promote is philanthropy not necessarily service. His idea is promoting the poor to be self-reliant and not to rely on others to do the work for them. With all the different Garmeen companies, i feel that Yunus is promoting the welfare of the poor and getting others involved through donations that are changing the world for the poor. I think this method has worked better in helping the poor move out of the category of “poor,” than just having groups come in to do service for the poor. This way seems to last longer and be more long lasting.