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Creating a World Without Poverty: Social Business and the Future of Capitalism By Muhammad Yunus, 2007. Public Affairs, a member of the Perseus Books Group. Pp. 261, $26.00 hardcover. This review is based on eight compact discs, narrated by Patrick Lawlor, $29.95.
This book tells the story of Dr. Muhammad Yunus and how his pioneering work in making small loans to people resulted in his receiving the Nobel Peace Prize in 2006. He attended Vanderbilt University under a Fulbright scholarship, pursuing economics studies. He was teaching at a university in Bangladesh when this saga began. He believed that very small loans (under $50) would greatly improve the lives of poor people living around the university. When he attempted to persuade local banking institutions to make these "microloans," his efforts were rebuffed. He offered to guarantee the loans himself and still had difficulties. Eventually, the loans were made and successfully repaid. He wanted the bank to make new loans in other places. Again, he met obstacles. Eventually, the new loans were made and repaid. However, faced with what he viewed as never-ending hurdles, he began the Grameen Bank to make the loans directly. Through trial and error, he...