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“Creating a more equal society through competition and perfect information”

The Gini App

I was first introduced to the idea of social entrepreneurship in college while exploring different reads at a Barnes and Noble in between shifts of a summer job. I came across a book in the economics section titled Portfolios of the Poor: How the Poor Live on $2 a Day. In that book I was introduced to Muhammad Yunus and the idea of microfinance. Yunus believes that what limits many of the poor from climbing out of poverty is a lack of access to affordable income generation capital. The brilliance of the idea was the simplicity with which he chose to solve the problem. Instead of requiring borrowers to provide collateral. He required borrowers to take out loans in groups. Instead of physical collateral, he insured the loans with social ties. All borrowers were responsible if one in the group failed to repay. I was hooked. I purchased the…

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  1. Pingback: Business is Good! | Teacher-preneur

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