Betwixt forlornness caused by a mislaid
interpretation of current capitalism in the context of the most unprotected
people, lies a ray of hope based on the same
capitalism we know, but with a wholly different interpretation. Microcredits and
social entrepreneurs are today perceived as
beacons of hope for the hitherto unprotected and vulnerable sections of the society.
Social business is based on trust and confidence of the poor and their innovative spirit,
their will to progress, their creative enthusiasm and the dynamics thereon. Dr.
Muhammad Yunus, Professor of Economics,came up
with the idea of Social Business (SB), which was born out of the despair at seeing people
in Bangladesh dying from famine and sicknesses. Working as a Professor of Economics at
the local university up to that moment, Dr. Yunus decided to quit from being a passive
witness of the harrowing show. Thus, he got
involved directly in the lives of these people by proposing an astounding new way
of conceiving business, by providing small credit to these otherwise ignored poor people.
His brainchild, the Grameen Bank, has during its 30 years if existence assured a better
quality of life for millions of poor people, first
in his native Bangladesh, then worldwide.
The denial of credit by financial institutions to poor people to meet their pressing
needs has been largely responsible for their continuing to remain poor. And most
of the times they end up being dependant on loan sharks with astronomical rates
of interest, which inexorably draws these people into a debt trap from which it is
impossible to escape. |
