Nobel Laureate for Peace, Mohammed Yunus of Bangladesh who founded Grameen Bank now has a branch in Jackson Heights, Queens, NY. They currently have about 500 borrowers with no credit history and no collateral with a 97% payback rate. Mr. Yunus suggests that new social businesses should have a separate stock market. People could design their own businesses and it could be regulated using the 501C(3) model. His new book is: Creating a World Without Poverty: Social Business and Future of Capitalism.
Thank you for this recommendation. I am really looking forward to reading this book and thinking more about how this model could help resolve the economic crisis and empower the poor and working class.
ReplyDeleteAn idea came to my mind although I haven't fully thought out how it would operate: What do you think of having a book discussion group of some kind? Totally elective, any Sisters and Associates who'd like to log on to a chat room at a specified day and time to talk about a common JPIC reading. I wonder how many might be interested.