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The theoretical aspect of Muhammad Yunus’s dream-'putting poverty in museums'

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  • Zaman, Md Monowaruz

Abstract

The present economy is based on capital based income structure. Grameen Bank has shown how zero capital owners become small capital owners by taking micro-credits. However micro-credit can create very limited economic density in an area that is insufficient to eradicate poverty unless the root causes of poverty are identified and counteracted. Neoclassical economics only focus on presently available capital although the capitalists are not created at once. A natural cycle of economics upholds economic, cultural and social values by its self-corrective nature. The natural economics is overridden by profit-motive institutional structure, where the market is not uniform or equal behaving for all segments of economic agents rather it is distributed as layers of energy states. A prudent utilization of all the opportunities targeting the poorest people of an economy will make benefited all in terms of new values, welfare and employment opportunities etc.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 1306.

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Date of creation: 02 Jan 2007
Date of revision: 02 Jan 2007
Handle: RePEc:pra:mprapa:1306

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Related research

Keywords: Micro Credit; Povert Alleviation; Social Business; Money-Market Dynamics; Cycle of Economics; Welfare; Grameen Bank; Worker's Share;

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References

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  1. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2002. "Institutions and the resource curse," Development and Comp Systems, EconWPA 0210003, EconWPA.
  2. Samuel Bowles & Herbert Gintis, 2000. "Walrasian Economics in Retrospect," UMASS Amherst Economics Working Papers, University of Massachusetts Amherst, Department of Economics 2000-04, University of Massachusetts Amherst, Department of Economics.
  3. Jakob B. Madsen & E. Philip Davis, 2004. "Equity Prices, Productivity Growth, and the 'New Economy'," EPRU Working Paper Series, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics 04-05, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.
  4. Luca Anderlini & Leonardo Felli, 2000. "Transaction costs and the robustness of the Coase Theorem," LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library 3591, London School of Economics and Political Science, LSE Library.
  5. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, American Economic Association, vol. 36(1), pages 75-111, March.
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Cited by:
  1. Zaman, Md Monowaruz, 2010. "An Unbiased Pareto Improvement strategy for poverty alleviation," MPRA Paper 27800, University Library of Munich, Germany.

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