Comments

Trickle down economics? May be time to rethink the strategy of our economic policies.

Posted by Gary Fox at October 13, 2006 10:39 AM

I drove by money into cash preditory lending as I heard the story on NPR and I thought there just might be a solution to sustained poverty through preditory lending.

Posted by Gary Fox at October 13, 2006 10:41 AM

Women rule!!!!!!!!

????????????????????

Certain individuals rule. Sex has something to do with it?

Sincerity, honesty rules and a few other attributes. If you are man or woman matters as much as if things were stated in centimeters or hundreth of a meter.

Posted by woman at October 13, 2006 11:06 AM

Fantastic achievement for Muhammad Yunus - simplicity rules again! This sort of recognition surely gives us hope that things may just be changing. The integrity of any country is surely how we respect the poorest in our population – that is poorest in monetary and emotional terms. Recently I have been introduced to the concept of ‘radical giving’ and I hope that is the next big thing. Congratulations Tom for once more being ahead of the game – those thousands of us who have been following your work for over 20 years appreciate that you have been preaching this stuff all those years. Keep dancing round the kitchen and keep rattling the cage. In my opinion 'overnight success' comes only after many years hard work.

Posted by Trevor Gay at October 13, 2006 11:27 AM

"Woman": So does 94% in a Muslim nation, after a concerted effort to get the men involved, suggest that there's no difference between the sexes on an issue like this? Sure, hats off to the 6% men who behaved in a useful fashion.

Look, I'm a warfighting (Vietnam), football loving, former frat boy who lives on a farm in a redneck state that's never seen an automatic weapon that you shouldn't buy 2 of. I'm hardly against guys ... but the damaned record speaks for itself. (Alas!)

Posted by tom peters at October 13, 2006 12:15 PM

Tom:

Change begins small. Women certainly have their force in a nation even if it is under burkas. Perhaps I do not understand how they can iniate change from within. Do you? I have never been to a muslim nation, I could hardly speak for a muslim women, I think they think different than I. But if they are hardworking and determined without pay or without fame, I can understand that.

Do they get rid of infant girls there when they want boys? Do you know? I know they don't have a boming market (controlled) economy yet.

Listen, I am a surburbia desperate housewife, or so I have been told. I don't believe it, though.

Posted by nancy at October 13, 2006 12:54 PM

afterthought on the topic at hand:

Nobel prizes seem to have become publicity-political statements. Don't you think?

Now what about the Fields Medal...isn't that less publicity and more achievement in the true sense of award. I certainly see the possibility that i could be prejudice to the mathematical geniuses and genii that have born such thoughts. What do you think?

Posted by nancy at October 13, 2006 1:25 PM

"Nobel prizes seem to have become publicity-political statements. Don't you think?"
Nancy: I think the Peace prize is occasionally a political statement. And, for me, that's good; in fact, how could the Peace Prize not be a "political statement" since war & peace is a political affair? This year's to Yunus seems less political than I ever remember. As to whether there's politiking around the prizes ... absolutely; humans will be humans, as much in science and literature as anywheree else. Overall, I think the Nobels are about as good as we the people can get. I always find them thrilling, I must admit.

Posted by tom peters at October 13, 2006 2:30 PM

Thanks for posting this excellent news, and for your enthusiasm about Grameen microfinance! At Grameen Foundation, we're excited to see the word spread about microfinance, as we're working to bring the Grameen Bank microfinance model to the poorest of the poor around the world. Learn more about our work at www.grameenfoundation.org.

Posted by Ken Liffiton, Grameen Foundation at October 13, 2006 2:31 PM

I heard about Yunus on my car radio this morning, and it's just as well that I had the cruise control on (cheering and arm-pumping are incompatible with safe driving). I later read a news story that gave some of the background: Yunus didn't start granting loans out of the blue; he learned that craftswomen in a certain village were being victimized by predatory lenders who lent them money to buy supplies but took most of their profits. So he bought out their debt, started what later grew into the Grameen Bank, and the results speak for themselves.

Regarding the men-vs.-women statistics, my suspicion is that, in any society where maleness is prized and women are considered an inferior species, the women expect to have to earn (by hard work) whatever they can get, while the men have a sense of entitlement. So the women develop a work ethic and a sense of responsibility, whereas the men feel they deserve the rewards without having to work for them -- which isn't the cast of mind you want in someone you're lending money to!

Posted by Paula at October 13, 2006 2:46 PM

Tom,

I imagine micorfinance is way higher mathematics than i can figure. I will take the opportunity to look into the model to see what I can see and take into consideration what you have said.

Thanks for the conversation. Have a wonderful fall weekend. I know I will as we are having an ethnic fair, and as you know good food and drink is at the heart and stomach of understanding!

Nancy

ps 2006 Fields Medal: two Russians (one declined), a Frenchmen, and a Australian, if anyone is interested. Not many women on that list. Now if I had only stayed in math, and not design or homekeeping! (sigh)

Posted by nancy at October 13, 2006 3:00 PM

A good dance at 6 a.m. is a joy in itself. I heard the story on NPR this morning and also reveled in the fact that small ideas and businesses that make peoples lives richer are usually winning propositions. It just takes a visionary with a good idea and some true believers. Changing the world one person at time, and that person changes the next...and the next.

Also the old addage that "people buy from people not from companies" seems to ring true. People respect and value loans from people who know them, not over-stuffed bureaucratic, granite encased institutions.

Posted by Tom at Proteus at October 13, 2006 3:32 PM

In the spirit of peace in the good ol' USA, how many hire or recommend aging housewives without work experience and pay them more than a brand new hire? Not much in my resumé but mom.

Posted by nancy at October 13, 2006 5:01 PM

Dear Tom:

Bravo!! One and a million times!!

The World is changing for good. Bravo!

This is a tremendous example that we all need to become more humble and generous to others.

Companies can participate to help poor people. Just like Mr. C.K. Prahalad have explained in his book "The Fortune at the Bottom of the Pyramid: Eradicating Poverty Through Profits"
http://www.amazon.com/Fortune-Bottom-Pyramid-Eradicating-Through/dp/0131877291/sr=8-1/qid=1160786020/ref=pd_bbs_1/104-9565678-9605501?ie=UTF8

The world will be a better pleace if we help poor people.

Tom, Thank you for all this comments posted. Congratulations.

Best regards

Juan Miguel

Posted by Juan Miguel Robles Vargas at October 13, 2006 8:02 PM

Tom your comments are interesting. But I could not agree more with the women who posted on the forum.
True words of wisdom:

"Certain individuals rule. Sex has something to do with it?

Sincerity, honesty rules and a few other attributes. If you are man or woman matters as much as if things were stated in centimeters or hundreth of a meter.

Posted by woman at October 13, 2006 11:06 AM "

Nobel prizes seem to have become publicity-political statements. Don't you think?

Now what about the Fields Medal...isn't that less publicity and more achievement in the true sense of award. I certainly see the possibility that i could be prejudice to the mathematical geniuses and genii that have born such thoughts. What do you think?

Posted by nancy at October 13, 2006 01:25 PM

Tom you are good, but these two posts are brilliant. You have been unsurped by the sex you praise. They actually go to show the values that come easier to some women - namely not falling for the hype and not really wanting to please some 'Old Boys Club they belong to'.

Its good values and humanity that stay true - not women or men.

Posted by Thomas Alexander at October 13, 2006 11:53 PM

Microfinance emerged in the 1970s as social innovators began to offer financial services to the working poor — those who were previously considered “un-bankable” because of their lack of collateral. This model of lending disproved all conventional thinking and microfinance has become one of the most sustainable and effective tools in the fight against global poverty. In addition, the poor, like all of us, need a secure place to save their money and access to insurance for their homes, businesses and health.

Microfinance institutions (MFIs) are now innovating to help meet these needs, empowering the world’s poor to improve their own lives. Did you know that the global repayment rate for microcredit loans is higher than 95 percent, which allows MFIs to re-lend these funds to even more clients? By giving the world’s poor a hand up, not a handout, microfinance can help break the cycle of poverty in as little as a single generation.

Definitely, Mohd. Yunus of Grameen Bank well deserves the Nobel 2006 Peace Prize. Wish we have more people like him in this planet.

Posted by K.Sriram at October 14, 2006 12:43 AM

I sent my Blog as email to about 35 people. I've never seen such vigorous unanimity of opinion! All positive!

Posted by tom peters at October 14, 2006 8:12 AM

Hey Tom

Is that because you sent it to 35 people who you knew would agree with you? If that's the case, vigorous unanimity is not such a big surprise!!

Agree with 'woman' and others on the women rule issue. It's less about gender (and race, and age etc) and more about the person and their qualities and values.

But also agree with you that this Peace Prize award is inspirational, and recognises a truly radical, brave and innovative venture

Posted by tomjam at October 14, 2006 10:46 AM

Thank you. from woman, too.

I can't say that I know anything about the politics of the Fields Medal, but if I am to believe what I read, it seems there is enough to go around no matter how pure I would like the science to be applied.

I do like what Perelman said, yea, what he said.

"It is not people who break ethical standards who are regarded as aliens. It is people like me who are isolated."

Interesting Grigori. And some how in my world I understand exactly what you mean. I like when

art imitates life, and even better:

math imitates life.

Substitutions allowed: math is art, though I can't submit the proof.

Posted by nancy at October 14, 2006 1:24 PM

For major problems of the world, small is more beautiful and impactful.

Moreover, in a world where abject poverty still is an intrinsic part of millions of lives, what is needed is "volume based strategies culminating into huge value" rather than "big ticket value based strategies with limited volume".

More Muhammad Yunus and Grameen Banks are needed to make this world a better place.

Posted by Mayank Krishna at October 14, 2006 3:41 PM

I am so thrilled to see your happiness in Prof. Yunus's wonderful award. He was our guest of honor two weeks ago in Bangladesh for a product launch of VoIP between our company UTC Associates and BroadSoft for Bangladesh. Our President sits on one of his boards and has been a friend for quite awhile. He is one of the most gentle and humble men on the planet and an inspiration to all who meet him. He has worked tirelessly for the poor and set a financial model for the world to follow which in the end will help to contribute to world peace. I am so happy to see that you feel his vision as well, Tom.

Posted by s. guglielmi at October 15, 2006 2:26 AM

"Agree with 'woman' and others on the women rule issue. It's less about gender (and race, and age etc) and more about the person and their qualities and values." (tomjam)

Of course it is. And isn't.

Women "do" relationship stuff differently than men--by the age of 2 days. (Eg measurably & significantly more eye contact from F than M.) Of course there are gajillions of thoughtful men. But we are also unequivocally (UNEQUIVOCALLY!!) responsible for 90+% of all 3 categories of human violence: international, intranational (crime as locally defined), domestic.

Make no mistake (per me), the Yunus story gets filed under "women" as well as several other categories such as "one person (man, to be sure, in this case) can make the world wobble on its axis."

Posted by tom peters at October 15, 2006 11:42 AM

"abject poverty still is an intrinsic part of millions of lives" (Mayank Krishna)

Alas ... BILLIONS.

Posted by tom peters at October 15, 2006 11:44 AM

Tom

There should be dancing in the streets all around the world for this is good news... Perhaps now we can finally put the "gender war" behind us... We can talk about people again... We can embrace people with intergrity, honesty, and a sense of sharing... This was not so much a bank as a "political mission" to help people who were willing to help themselves... Human beings who were truly struggling to make do... People with integrity who knew the true meaning of receiving a helping hand... People who knew how to honour a debt and how to make sure that others could benefit from this new type of political system...

Cheers
Richard.

Posted by Richard Lipscombe at October 15, 2006 3:36 PM

Tom

The image of you leaping around the kitchen hapopped into my head several times this weekend and made me smile.
That's just one of the things that put you ahead of the rest. I can't visualise Michael Porter dancing round his kitchen, or at least telling us about it if he did!! Good on you!

I take your point about women/girls and their early communication advantage. Yes, ON AVERAGE, women are more likely to be better at empathy, social networking and so on, and so on...yet there are plainly also women who are not that hot on these things..but assume they are because the prevailing 'wisdom' tells them they are (and that correspondingly men are a bunch of unreconstructed neanderthals (yes, lots are but many are not). These stereotypes (women good, men bad) can become prevailing orthodoxies as unchallengable as the ones they replace

Posted by tomjam at October 15, 2006 4:40 PM

"These stereotypes (women good, men bad) can become prevailing orthodoxies as unchallengable as the ones they replace" (tomjam).
We are in complete agreement on this.

Posted by tom peters at October 16, 2006 2:41 AM

I am so greatful i read you post today. there was so much hype about this Australia, I couldn't understand why. Now I do. Thank you Tom

Posted by Steve at October 16, 2006 4:03 AM

"there was so much hype about this Australia"--Steve

To be sure the idea has its critics. And some who have tried to emulate it have fallen flat on their faces. Some even challenge Yunus' numbers. But anybody out on a limb attracts critics--that's what it means to be way out on the damn limb. In a way, above all the award pushes the "aura" of Aid away from its longtime Big Project bias. Much more fun as an aid worker to have your picture taken next to a big dam shaking hands with Mr Mugabe, or whomever, rather than a fuzzy Kodak Moment along side a famished woman with a sewing machine.

Posted by tom peters at October 16, 2006 6:58 AM