“The most powerful tool to lift families out of extreme poverty is to grant micro-loans to women.”

International Business and Leadership Symposium address

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Begum Aga Khan11

German philanthropist 1963

Rhonda Byrne book The Secret

Source: The Secret

“Democratization of commerce is based on everyone having the right to exercise their roles as micro consumers, micro producers, micro entrepreneurs, micro investors, and micro innovators. Access to information removes the first impediment to building this brave, new world. Information asymmetry has always been at the heart of poverty.”

C.K. Prahalad book The Fortune at the Bottom of the Pyramid

Source: The Fortune at the Bottom of the Pyramid, 2009, p. 22

“Orthodox tools based on a normal distribution therefore fail exactly where they are most needed, at the extremes.”

David Orrell (1962) Canadian mathematician

Source: The Other Side Of The Coin (2008), Chapter 7, Straight Versus Crooked, p. 223

“We’ve set two goals: ending extreme poverty by 2030 and boosting shared prosperity. How are we going to get there? Generally speaking, it divides into three main categories. One is economic growth. If you look at the greatest achievements in lifting people out of poverty, China, almost through brute economic growth, lifted 600 million people out of poverty. The second big block is investment in human beings. In other words, making sure that the poorest people have some kind of income or sustenance to be able to consume and, potentially, participate in economic growth. And a third category is social protection.”

Jim Yong Kim (1959) Korean-American physician and anthropologist, 12th President of the World Bank

Banker to the Poor, A Conversation With Jim Yong Kim, October, 14

“The rules of the game must be changed so that loans are not granted on purely economic considerations and that the loan “conditionalities” henceforth aim at advancing the wellbeing of the populations concerned.”

Alfred de Zayas (1947) American United Nations official

Report of the Independent Expert on the adverse impact of World Bank policies on human rights and the realisation of a democratic and equitable international order
2017, Report submitted to the UN Human Rights Council

“Clearly, the power of the lender to command interest has nothing to do with the use to which the loan is put. Whether the borrower uses it to build a factory or acquire a dwelling house, whether he spends it on tools of his trade or gambling on horses, will make no difference… The coupling of interest with capital has been an unfortunate error prolific in its progeny of falsehoods. It arises from confusing the power to exact payment for loans with the use to which some of the loans are put… It gives to the idea of a loan a quality it should not possess, a suggestion of productiveness and of social benefit, obscuring the indebtedness and dependence which the loan so plainly advertises.”

Leon MacLaren (1910–1994) British philosopher

Leon MacLaren, Nature of Society and Other Essays, p169