31 century museum around the world

Muhammad Yunus

Language : ENGLISH : THAI


An economic theory proposed by Muhammad Yunus, an economist who was awarded the Nobel Peace Prize in 2006 and the founder of a bank for the poor (Grameen Bank), for example, mentioned the Microcredit theory (loans to poor people possessing no collateral), and pointed out flaws of mainstream economic theories in that they have not yet been challenged. For instance, the Macroeconomic Theory, the heart of all economic analysis frameworks is imperfect. The reason is that the theory viewed humans as either consumers and labors, hence ignoring the potential of individuals who are self-employed. A division of humans into entrepreneurs and labors overlooked creativity and initiation of each individual, and is based on a view that self-employment in the Third World is a symptom of underdevelopment. (Bank for the poor, VERS UN MONDE SANS PAUVRETE written by Muhammad Yunus translated by Sarunee Artchavanuntakul page: 170-171)

Share Published on Apr 07, 2017 at 1:02 am.
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