Wednesday, August 29, 2007

Assets that give borrowers realistic hope


A Billion Bootstraps
Phil Smith and Eric Thurman


One way to end poverty can be microcredit, argue Phil Smith and Eric Thurman in A Billion Bootstraps ( http://www.tatamcgrawhill.com/ ). Since traditional charity programmes can only provide short-term relief, we need to apply investment principles to philanthropy, they suggest.
Cases presented in the book show how microcredit helps in increasing personal income and also assets.

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