How Labour can learn from Bangladeshi poverty

In this interview Muhammad Yunus, Nobel winning founding founder of “microcredit” talks about banks, poverty and governments.

What struck me as I read the interview was how much of the problems from Bangladesh were applicable to the UK. It is good to see the Grameen Bank opening in the US, but I couldn’t help think that the principles underpinning this model were something that would help many people in the UK who continue to suffer at the hands of banks and loan sharks.

One area that I do need to correct Muhammad is where he talks about rates of 1000 and 2000 percent. In the UK of course, many people are paying rates much higher than that.

This isn’t a political rant. It is actually about strategy. Successful organisations, whether commercial, not for profit or governments seek to continually improve and to learn. They don’t argue against ideas that don’t work, but instead seek to learn from them and improve them, adapting them as required. A lesson sadly lost on political parties.

 

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