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How to save Capitalism

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posted on May, 17 2010 @ 08:51 AM
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I would like you to read all of this information I will provide to you. Make an educated decision upon the subject and help draft up ideas that could make this system even better.

Muhammad Yunus

Muhammad Yunus (Bangla: মুহাম্মদ ইউনুস, pronounced Muhammôd Iunus) (born 28 June 1940) is a Bangladeshi banker and economist. He previously was a professor of economics where he developed the concept of microcredit. These loans are given to entrepreneurs too poor to qualify for traditional bank loans. Yunus is also the founder of Grameen Bank. In 2006, Yunus and the bank were jointly awarded the Nobel Peace Prize, "for their efforts to create economic and social development from below." Yunus himself has received several other national and international honors. He is the author of Banker to the Poor and a founding board member of Grameen America and Grameen Foundation. In early 2007 Yunus showed interest in launching a political party in Bangladesh named Nagorik Shakti (Citizen Power), but later discarded the plan. He is one of the founding members of Global Elders. Yunus also serves on the board of directors of the United Nations Foundation, a public charity created in 1998 with entrepreneur and philanthropist Ted Turner’s historic $1 billion gift to support United Nations causes. The UN Foundation builds and implements public-private partnerships to address the world’s most pressing problems, and broadens support for the UN.

Muhammad Yunus was awarded the 2006 Nobel Peace Prize, along with Grameen Bank, for their efforts to create economic and social development. In the prize announcement The Norwegian Nobel Committee mentioned:


Muhammad Yunus at the Grand Hotel in Oslo, NorwayMuhammad Yunus has shown himself to be a leader who has managed to translate visions into practical action for the benefit of millions of people, not only in Bangladesh, but also in many other countries. Loans to poor people without any financial security had appeared to be an impossible idea. From modest beginnings three decades ago, Yunus has, first and foremost through Grameen Bank, developed micro-credit into an ever more important instrument in the struggle against poverty.

en.wikipedia.org...

Grameen Bank

In 1976, during visits to the poorest households in the village of Jobra near Chittagong University, Yunus discovered that very small loans could make a disproportionate difference to a poor person. Jobra women who made bamboo furniture had to take out usurious loans for buying bamboo, to pay their profits to the moneylenders. His first loan, consisting of USD 27.00 from his own pocket, was made to 42 women in the village, who made a net profit of BDT 0.50 (USD 0.02) each on the loan, thus vastly improving Bangladesh's ability to export and import as it did in the past, resulting in a greater form of globalization and economic status.

Dr. Akhtar Hameed Khan, founder of the Pakistan Academy for Rural Development (now Bangladesh Academy for Rural Development), is credited alongside Yunus for pioneering the idea. From his experience at Jobra, Yunus, an admirer of Dr. Hameed, realized that the creation of an institution was needed to lend to those who had nothing. While traditional banks were not interested in making tiny loans at reasonable interest rates to the poor due to high repayment risks, Yunus believed that given the chance the poor will repay the borrowed money and hence microcredit could be a viable business model.

Yunus finally succeeded in securing a loan from the government Janata Bank to lend it to the poor in Jobra in December 1976. The institution continued to operate by securing loans from other banks for its projects. By 1982, the bank had 28,000 members. On 1 October 1983 the pilot project began operations as a full-fledged bank and was renamed the Grameen Bank (Village Bank) to make loans to poor Bangladeshis. Yunus and his colleagues encountered everything from violent radical leftists to the conservative clergy who told women that they would be denied a Muslim burial if they borrowed money from the Grameen Bank. As of July 2007, Grameen Bank has issued US$ 6.38 billion to 7.4 million borrowers. To ensure repayment, the bank uses a system of "solidarity groups". These small informal groups apply together for loans and its members act as co-guarantors of repayment and support one another's efforts at economic self-advancement.

The Grameen Bank started to diversify in the late 1980s when it started attending to unutilized or underutilized fishing ponds, as well as irrigation pumps like deep tubewells. In 1989, these diversified interests started growing into separate organizations, as the fisheries project became Grameen Motsho (Grameen Fisheries Foundation) and the irrigation project became Grameen Krishi (Grameen Agriculture Foundation). Over time, the Grameen initiative has grown into a multi-faceted group of profitable and non-profit ventures, including major projects like Grameen Trust and Grameen Fund, which runs equity projects like Grameen Software Limited, Grameen CyberNet Limited, and Grameen Knitwear Limited, as well as Grameen Telecom, which has a stake in Grameenphone (GP), biggest private sector phone company in Bangladesh. The Village Phone (Polli Phone) project of GP has brought cell-phone ownership to 260,000 rural poor in over 50,000 villages since the beginning of the project in March 1997.

The success of the Grameen model of microfinancing has inspired similar efforts in a hundred countries throughout the developing world and even in industrialized nations, including the United States. Many, but not all, microcredit projects also retain its emphasis on lending specifically to women. More than 94% of Grameen loans have gone to women, who suffer disproportionately from poverty and who are more likely than men to devote their earnings to their families. For his work with the Grameen Bank, Yunus was named an Ashoka: Innovators for the Public Global Academy Member in 2001.

en.wikipedia.org...

Microcredit

Microcredit is the extension of very small loans (microloans) to those in poverty designed to spur entrepreneurship. These individuals lack collateral, steady employment and a verifiable credit history and therefore cannot meet even the most minimal qualifications to gain access to traditional credit. Microcredit is a part of microfinance, which is the provision of a wider range of financial services to the very poor.

Microcredit is a financial innovation that is generally considered to have originated with the Grameen Bank in Bangladesh.[1] In that country, it has successfully enabled extremely impoverished people to engage in self-employment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty.[citation needed] Due to the success of microcredit, many in the traditional banking industry have begun to realize that these microcredit borrowers should more correctly be categorized as pre-bankable; thus, microcredit is increasingly gaining credibility[citation needed] in the mainstream finance industry, and many traditional large finance organizations are contemplating microcredit projects as a source of future growth, even though almost everyone in larger development organizations discounted the likelihood of success of microcredit when it was begun. The United Nations declared 2005 the International Year of Microcredit.

en.wikipedia.org...

Social Business

These were developed by Prof. Muhammad Yunus at the World Economic Forum in Davos, January 2009

*Business objective will be to overcome poverty, or one or more problems (such as education, health, technology access, and environment) which threaten people and society; not profit maximization
*Financial and economic sustainability
*Investors get back their investment amount only. No dividend is given beyond investment money
*When investment amount is paid back, company profit stays with the company for expansion and improvement
*Environmentally conscious
*Workforce gets market wage with better working conditions
*…do it with joy

en.wikipedia.org...




If we were to impliment an economy that includes Microcredit as part of a traditional economic system inside capitalism we could help to aleviate poverty and would not have a need for a welfare state. It would create a system where the only people who do not get what they need is because they are too lazy to work. It would create a system where everyone could create their own business, which would lead to a more equal economy, less income inequality, less poverty, more innovation and less monopolistic control over the economy by big corporations.

Which would lead to the only necessary need for government would be to protect people and maybe essential things such as roads, police, fire department, defense, etc...




posted on May, 17 2010 @ 09:24 AM
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capitalism does NOT work in a world where the 225 richest people have a combined wealth equal to the combined annual income of the world's 2.5 billion poorest people... capitalism is just a new vehicle of creation for a slave class and a noble class of ultra-rich people... capitalism is a farce, a scam, its [*SNIP*]...

www.globalpolicy.org...

•The wealth of the three most well-to-do individuals now exceeds the combined GDP of the 48 least developed countries.

•UNDP calculates that an annual 4 percent levy on the world's 225 most well-to-do people (average 1998 wealth: $4.5 billion) would suffice to provide the following essentials for all those in developing countries: adequate food, safe water and sanitation, basic education, basic health care and reproductive health care. At present, 160 of those individuals live in OECD countries; 60 reside in the United States

•Microsoft CEO Bill Gates has more wealth than the bottom 45 percent of American households combined


and those are 11 year old statistics.. its gotten much worse since... [*SNIP*] capitalism, let it die

[edit on 17-5-2010 by TheCoffinman]

 


Mod Edit: Removed profanity.

Profanity/Circumvention Of Censors – Please Review This Link.

[edit on 5/17/2010 by AshleyD]



posted on May, 17 2010 @ 09:35 AM
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why would you want to save that?



posted on May, 17 2010 @ 09:55 AM
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reply to post by FantasmaTaans
 


reply to post by TheCoffinman
 


It's not going anywhere. There are people who own way too much to ever let it fail. Face it, it's not going anywhere! The best we can do is try and reform it to help the needy.



posted on May, 17 2010 @ 10:05 AM
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you should check this short animated video.

Economic Hitmen

The problem is bigger than you think.



posted on May, 17 2010 @ 10:11 AM
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reply to post by TheCoffinman
 


Why

Because someone smarter than you has made the best he can for himself?

The participants on this website keep looking for more and more handouts while the other hand says the opposite.

If people on this website spent half as much of their [SNIP] time trying to better themselves rather than bitching about their pathetic excuse for existence because daddy didn't give them 50,000 for college on ATS the world would be a much different place.

No one is going to help you other than yourself. [SNIP] man up to the reality that you, and you alone, are responsible for how far you go in life.

Not specifically talking to you btw.

 


Mod Edit: Removed profanity.

Profanity/Circumvention Of Censors – Please Review This Link.

[edit on 5/17/2010 by AshleyD]



posted on May, 17 2010 @ 10:16 AM
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post removed because the user has no concept of manners

Click here for more information.



posted on May, 17 2010 @ 10:18 AM
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off-topic post removed to prevent thread-drift


 



posted on May, 17 2010 @ 10:24 AM
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THREAD NOTICE.

Deep breath. Avoid attacking other members. Please remember that CIVILITY IS MANDATORY. Stay on topic. Also, DO NOT USE PROFANITY OR EVADE THE PROFANITY FILTERS.

Thank you.



posted on May, 17 2010 @ 10:27 AM
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reply to post by GreenBicMan
 


bah cmon man, you think those 225 richest people earned their money? thats old money... they inherit it, like titles of nobility. besides, you think they are billionaires cause they followed the law? they are crooks who think that they've inherited the earth, think they are better than anyone below them, theyre power hungry, egotistic scumbags... we are all humans, born in equal terms (cept for them billionaires). they bleed just like the poor do.. why is anyone entitled to anything more than anybody else?

i see what your saying, if i slave hard enough for longer hours maybe i can enjoy a day of relaxation... im sorry but that doesnt work for me. the "noble class" need not work a day in their lives. while their children and their children's children need to never worry about money and the problems associated with it, my children, and their children are going to suffer from the incompetence, greed and pompous elitism of the wealthy. paper money are chains to hold men down. if you dont work for the wealthy, you dont get money, if you dont have money, you dont get to eat, or drink, or have a roof over your head.. is that fair? the greatest concentration of wealth in american history is happening right now. never has the disparity of wealth been so huge. there are rich and their are poor

[edit on 17-5-2010 by TheCoffinman]

[edit on 17-5-2010 by TheCoffinman]



posted on May, 17 2010 @ 10:41 AM
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reply to post by TheCoffinman
 


Don't waste your breath on this guy.....remember it's all about green shoots and debt monetizing. Forget reality --- it's not what you know, but what you can prove.

I just wanted to say your post above was spot on!!!!!!



posted on May, 17 2010 @ 10:44 AM
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reply to post by TheCoffinman
 


Explain to me how Bill Gates inherited this money?

Why are you so bent on people not reaching the pinnacle in life?

Please, do yourself a favor, advance your education in life. You may hate it/me now but will thank me later.

Do you think I could have gotten anywhere by just bitching? I work literally 80%+ of the hours I am awake each day. It isn't by luck or chance.



posted on May, 17 2010 @ 10:47 AM
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reply to post by GreenBicMan
 


why is the pinnacle of life to you the most money you can get yours hands on? why is the pinnacle of life to you wealth on the backs of your fellow man?

why should i work 80% of my day and therefore my life away just to get the necc. of life?

[edit on 17-5-2010 by TheCoffinman]



posted on May, 17 2010 @ 10:48 AM
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Originally posted by GreenBicMan
reply to post by TheCoffinman
 


Why

Because someone smarter than you has made the best he can for himself?


Not everyone in this world wants to be a monkey and grab everything he can, people only need so much to live on. Why do capitalists always come up with this rubbish statement about how someone has done better than another because they have more money. Heck the big boys are all criminals and many are probably involved in murder too, yep that makes them good doesn't it.



posted on May, 17 2010 @ 11:04 AM
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reply to post by andy1033
 


So what do the others want in life? The ability to complain about how others have made more money than them?

Why do you / anyone care how someone has advanced themselves in life?

The only reason I can think of is because you haven't.

It is never going to change either, so if you enjoy mediocrity then that is where you will remain.

I have no sympathy for those that haven't tried to advance themselves and spend a greater majority bitching about it.

It doesn't boil down to money or anything, at the end of the day your drive in life for the greatest majority equates to where you will end up. Can't slice it any other way.



posted on May, 17 2010 @ 11:08 AM
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reply to post by GreenBicMan
 


sorry man but thats the epitome of ignorance.



posted on May, 17 2010 @ 11:10 AM
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reply to post by TheCoffinman
 


Really?

How so?

I am truly interested how you think your drive in life DOES NOT equate to where you end up for the greater majority.

Unless you are disabled or have some sort of mental handicap or grow up in 3rd world country, this is certainly the case.

WE LIVE IN AMERICA MAN. NO BITCHING ALLOWED ABOUT HOW ROUGH YOU HAVE IT.

That is the real epitome of ignorance my friend.



posted on May, 17 2010 @ 11:10 AM
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Hey, nice job on bringing more to the story than i did,

notice the time stamps, the alert i made was a good easy source to use as a stepping stone... thats what collabotative news reporting is all about.

to wit:


posted on 17-5-2010 @ 01:15 single this post


on TV thismorning , monday 17 May, the start of the 7:30 am segment
had Author, Nobel Prize winner Muhammed Yunus on for about 4 minutes,

his idea is to re-make Capitalism,
generally with the Micro-Loaning type
of business he pioneered in India and SE Asia countries,
business model has rejuvinated the societies over there.

H e went on to explain how some old-model purely
capitalistic corps. can exist ,
but they cannot be the only business model
in the nations landscape....


indeed, the too-big-to-fail banks/investment houses need revamped and be instructed
to provide start up capital, with micro-loans to a bevy of new, self sustaining
micro-loan originators.
And companies that reduce unemployment, whose 'profit' is the reduction of
entitlement$/ unemployment$/ food stamp expenditure$...
the book is'Social Business- how business can serve humanity



thanks,


thanks for amplifing the material, the book (for sale) tells more of his paradigm shift in modifying capitalism, indeed



posted on May, 17 2010 @ 12:00 PM
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reply to post by GreenBicMan
 


my drive in life is to see capitalism fall and something better come along. in order for capitalism to "work" (and it only worls for the vultures) there has to be poor destitute people.. there has to be poverty, there has to be worker peons... there is another way... where everyone can enjoy the fruits of life.. capitalism profits off of death.... off the essentials of life... its a virius on the human mind.

"The way to make money is to buy when blood is running in the streets."
-John D. Rockefeller

f*ck capitalism...



posted on May, 17 2010 @ 12:02 PM
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reply to post by TheCoffinman
 


To quote Caddyshack

"The world needs ditchdiggers too"

Not everyone is going to be on the same level. That is unless you want the state/gov to make sure this happens. I would hate to live in that world.

This is sounding quote socialistic of you.

[edit on 17-5-2010 by GreenBicMan]



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