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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.

Suggested Citation

  • Zaman, Md Monowaruz, 2007. "The theoretical aspect of Muhammad Yunus’s dream-'putting poverty in museums'," MPRA Paper 1306, University Library of Munich, Germany, revised 02 Jan 2007.
  • Handle: RePEc:pra:mprapa:1306
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    References listed on IDEAS

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    1. Deane,Phyllis, 1978. "The Evolution of Economic Ideas," Cambridge Books, Cambridge University Press, number 9780521293150, March.
    2. Halvor Mehlum & Karl Moene & Ragnar Torvik, 2006. "Institutions and the Resource Curse," Economic Journal, Royal Economic Society, vol. 116(508), pages 1-20, January.
    3. Luca Anderlini & Leonardo Felli, 2006. "Transaction Costs and the Robustness of the Coase Theorem," Economic Journal, Royal Economic Society, vol. 116(508), pages 223-245, January.
    4. Jakob B Madsen & E Philip Davis, 2006. "Equity Prices, Productivity Growth and 'The New Economy'," Economic Journal, Royal Economic Society, vol. 116(513), pages 791-811, July.
    5. Samuel Bowles, 1998. "Endogenous Preferences: The Cultural Consequences of Markets and Other Economic Institutions," Journal of Economic Literature, American Economic Association, vol. 36(1), pages 75-111, March.
    6. Samuel Bowles & Herbert Gintis, 2000. "Walrasian Economics in Retrospect," The Quarterly Journal of Economics, Oxford University Press, vol. 115(4), pages 1411-1439.
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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.

    More about this item

    Keywords

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

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O21 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Planning Models; Planning Policy

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