BRAC net, world youth community and Open Learning Campus

Sir Fazle Abed -top 70 alumni networks & 5 scots curious about hi-trust hi-tech

..YIN extreme commnunism and capitalism both fail as a system due to the same faultline - namely that the ideology biggest organsiations become vested interests of a few insiders at the top however loudly they use propaganda to claim the opposite

 

YANG to the extent that alumni of Adam Smith saw the freedom purpose of economicsas designing systems/futures that improve the human lot, we agree with this teaching of  ..

Kenneth Boulding 1968 - Economics as a ( Systems) Science: The historical significance of capitalism is precisely a society in which exchange has become a more important source of power than threat

Jargon - entrepreneur (french between taker) originates circa 1800 from how to design a more socially productive economy after a place's peoples have found it necessary to cut off the heads of the top 0.1% who were monopolising all productive assets and rules over systems. My father Norman Macrae whose work at The Economist aimed to design better futures for all peoples chose term Entrepreneurial Revolution from 1972 to linkin his life's work on how to invest in youth of the first net generation being 10 times more oroductive, collaborative and sustainable through every community

 

 

online library of norman macrae - The Economist's Unacknowledged Giant

 

 

In the following we aim to make some observations as mathematical designers of systems measured to have expoential future impacts - we are not intentionally subcribing to any one party political view against another, nor do we wish to support any particular culture. But since anyone who pens words comes from somehere - we hope we express the view of diaspora scots. Soon after 1700, as a conseqeunce of international financial fraud, scots lost more than half of their savings. They were taken over by England and by 1850 over half had ben forced to emigrate to remain entrepreurially free and happily life rewarding. So we prefer a worldwide perspective but one that is grounded in the village of community's most urgent needs we find our families (especially our children) living through.

WHERE IS THE FUTURE OF CAPITALISM THAT FAMILIES WORLDWIDE MOST VALUE FOR CHILDREN?
The introduction of most media gives away some of the commons - especially local access to community spaces - unless specifically designed not to compound this loss of freedom.

Some apparently small media extensions - eg first to control audio taping alongside radio waves - have had terrifying first users -in this case Hitler. Another problem is caused by so-called democratic governments who sell out new media licenses to the highest bidder. From the politician's short-term electioneering point of view this revenue gain will be attractive to the populace since in the short-term it replaces need for more taxes. However a case can be made , for example, that USA sold up so much tv to commercial advertisers keeping so little public service - that the exponential consequence was the loss of whole truth integrity of public servants , the excesses of addiction, fear, image-making over real purpose,fatal conceit at the top of governance and academia,   short-term greed replacing inter-generation investment. Whether you attribute these crises in turn of millennium US system design to this or other factors, the hard working endeavours of the American people and the national system they are now stuck in are 2 very dfferent dynamics- reference how this future history played out: neurotic trillionaire survey of america's 3rd century

x 10 May 1969

 

Where can Hi-Trust Capitalism help youth replace phony capitalism

 

....... .

[PDF]

(GABV) was founded in 2009 as an independent network


File Format: PDF/Adobe Acrobat Funded by The Rockefeller Foundation, Triodos Foundation, BRAC and BRAC ...... Abed (BRAC Bank), Luis Felipe Derteano (Mibanco), and Thomas Jorberg (GLS ... In all economies new external capital will be required for banks with Values ... 2012 update at 3rd norman macrae remebrance party, our chief guest of honor was sir fazle abed: in a 2 hour dilaogue his most exciting experiment of the year: cashless banking www.bkash.org  

...

Extracts from The Econmist's Unacknowledge Giants Last Articles 2008 - more at consider bangladesh

THE IMPORTANCE OF DR YUNUS

By Norman Macrae, Saint James, London, February 2008:

UK Launch of Creating World without Poverty: Social Business & Future of Capitalism

 

The Nobel Peace Prize for 2006 was controversially awarded in Oslo to a "banker for the poor" in once basket case Bangladesh. Since the microcredit system pioneered by this Doctor Muhammad Yunus really has raised record millions of Bangladeshi women from the world’s direst poverty, Yunus was greeted on his recent visit to London largely by the misunderstanding Left. But as an octogenarian Free Marketer, I also had lunch with him and thrill fully to his stated aim to "harness the powers of the free market to solve the problems of poverty", and his brave belief that he can "do exactly that". This apparent appearance of a viable system of banking for the poor has important implications we had better start by examining how microcredit almost accidentally came about.

 

START IN A STARVING VILLAGE

During Bangladeshi’s terrible famine year of 1974, Dr Yunus ( who had attained his doctorate in economics in a fairly free market American university) was back at his 1940 birthplace of Chittagong, Professor of Economics at the university there. He took a field party of his students to one of the famine threatened villages. They analysed that all 42 of the village’s small businesses (tiny farm plots and retail market stalls) was indeed going bust unless they could borrow a ridiculously tiny total $27 on reasonable terms.

 

First thought was to give the $27 as charity. But Yunus lectured that a social business dollar that had to be paid back from careful use in an income generating activity, was much more effective than a charity dollar which might be used only once and frittered away. All of those first 42 loans were fully repaid, and lent back, and after 9 years further experiments Yunus in 1983 founded his Grameen (which means Village) Bank. Its priority was to make loans that were desperately needed by the poor instead of the usual banking priority to make the safest loans to the rich who could provide collateral against what they happened to want to borrow.

 

In the next 23 years, Grameen provided $6 billion of loans to poor people with an astonishing 99% repayment rate. In 2006, it had seven million borrowing customers, 97% of them women (who tend to be the poorer sex in rural Islamic societies) in 73000 villages of Bangladesh. Microcredit had by then reached 80% of Bangladeshi’s poorest rural families and over half of Grameen’s own borrowers had risen above the absolute poverty line.

 

When a Grameen bank manager goes to a new village, he has entrepreneurially to search for poor but viable borrowers . He earns a star if he achieves 100% repayment of loans, and another star if he attains achievement of the 16 guarantees that all customers are asked to pledge, ranging from intensive vegetable growing through attendance of all children at school, to abolition of dowries. A branch with five stars would oftenb transfer to ownership by the poor women themselves. A branch with no stars would be in danger of closing, so borrowers tend to rally round with suggestions, such as which unreliable repayers to exclude.

 

An extraordinary income generator was the profession of telephone ladies. They borrowed enough to buy a cheap mobile phone from a Grameen subsidiary. They world draw fees for phoning to see if more profitable prices for crops were available in a neighbouring village, and from anybody who wanted to hire the phone to contact the outside world. This is a job that could only become important in a microcredit setting; the owner of a mobile phone in richer suburbia would not find many customers to hire her set. Village garment-makers were soon exporting clothes to far countries which made free trade by the importing countries important.

 

One special desire of Yunus was to improve the nutrition of poor children in the villages of Bangladesh, and he formed a social business with the large French food multinational called Danone. Grameen-Danone test marketed to find what sorts of fortified yogurt Bangladeshi children would like. Although Danone at first wanted large plants with refrigerated systems, Grameen won the debate to make then small plants who bought local milk and very cheap local distributors who knew which families had children who might buy the cheap yogurt fresh. Danone had to agree not to pay any dividend from the sales of the yogurt in Bangladesh so as to keep the price cheap at a few US cents per cup, but its $1 million investment remains returnable and it has learnt a lot about sales of a new product in poor countries.

 

THE FUTURE

Will such Social Businesses spread as far as Yunus hopes? My view is that the Grameen experiment may prove to be most important for what might be called its macroeconomic impact. When more formal banking for the rich is intermittently in crisis, as is happening now. In this 2008, conventional bankers to the rich have trotted in panic behind the American giants who grossly mislent on subprime mortgages, and then sold these loans on in "securitised", and exploding and even "derivitavised" packages to weaker funds and banks who have frantically tried to disguise from their shareholders and from themselves how unmarketable and worthless some of these assets are. If all bank statements in early 2008 had been utterly and appallingly honest, runs by depositors out of them could already have accelerated out of control. Such banking crises are likely to recur before and after next January when a new American president takes office...

-----------------------------------------------------------

I am pleased to be informed that

The Economist is organizing

a remembrance party of Norman Macrae on 16 November

2010. Mr Macrae was a rational optimist as well as a liberal

economic journalist who was influential in both the

academic world and the world of practice. I am happy that

when I met Norman Macrae he was so enthusiastic about

Grameen Microcredit, Social Business and our own

entrepreneurial economics in Bangladesh. Over the years

Norman made important contributions in several capacities.

To many, he was best known as a prudent futurist.

I look forward to the publications, including the Journal of

Social Business, which friends of Norman Macrae are helping

support. This will not only raise the profile of the sector in

general, I feel the platform for improvement and growth of

what this journal has started will be successfully set.

I believe the article "Consider Bangladesh" by Norman

Macrae will play a key role in promoting the concept of

social businesses. I sincerely thank Macrae Family for

promoting Social Business and I wish success in all its

endeavors.

Sincerely,

Muhammad Yunus

.....

------------------------------------------

Remembering Norman Macrae 1923-2010

How to Avert A Great Depression Through the Hungry 2010s?

Answer, By Making All Banking Very Much Cheaper

This was Norman Macrae's last article written in December 2008

If banks in rich democracies had been truly competitive

institutions, at least one of them somewhere would have seized

the main opportunity created by the computer. This main

opportunity was to make all deposit-banking vastly cheaper than

ever before. By this cheapening it should make such banking

hugely more profitable. Then further competition would search

for the cheapest ways to guide all the world's saving into the

most profitable (or otherwise most desirable) forms of capital

investment, thus enriching all mankind.

Instead, during 2008 the total losses of banks in rich democracies

- in North America, West Europe and Japan - soared into trillions

of dollars. Fearful for their solvency, these banks virtually stopped

lending. The issuance of corporate bonds, commercial paper, and

many other financial products largely ceased. Hedge and

insurance firms also crashed. Mankind is thus threatened in the

2010s with its longest great depression since the hungry 1930s.

Why? The strange answer seems to be that other happy

consequences of modern technology promised to make this

cheapening even faster. Call centres in Bangalore vastly undercut

the middle class salaries of Midland bank clerk who until the

1950s expensively answered clients' questions in their branches

in the City of London. Cheap mobile phones kept village ladies in

once miserable Bangladesh as fully in touch with market prices as

is the chief research officer of the First National Bank of

Somewhere in California. His weekly salary is still 1000 times

greater than the previous annual earnings of that village lady. The

cost-effective way of running the old Midland or First National

then seemed to be to cut its total salary cost by something like

99%. This did not please Western welfare governments, or the

decent chief executives of the old Midland or First National bank.

3

Awaiting the sensation of a short sharp shock

From a cheap and chippy chopper on a big black block

- WS Gilbert in The Mikado - why it is uncomfortable to work in an

industry which needs 99% redundancies.

Western welfare governments have long preferred to run their

banks in high cost cartels, and even invented reasons why this

seems to be moral. Their deposit-banks have usually kept in cash

only 10% of the total amount deposited with them. If 11% of

depositors suddenly feared that their banks might go bust, this

could accelerate a run that would send them bust indeed.

Governments therefore thought that depositors would be less

fearful if they were assured that the banks were officially and

tightly regulated. Actually, this mainly meant that the banks had

to hire ever more expensive lawyers so as to escape any crippling

consequences from this regulation. The attached quote shows

that Samuel Pepys understood this fact of life in his Diaries of July

21, 1662.

I see it is impossible for the King to have things done so cheaply

as do other men

- Samuel Pepys on discovering an important commercial fact of

life in his Diary, 21 July, 1662

The decent bosses of the deposit banks felt that the best way of

avoiding sacking nine tenths of their staffs was by competing

with a very different sort of financing called merchant banking

whose earnings and bonuses were far more generous than those

given to their own staff. These merchant banks were of peculiarly

differing pedigree. In London, it was assumed that they could best

be run by families like Barings who had done the job for over 200

years. In the 1990s, Barings went totally bust because one of its

hired traders bet much of its money on a hunch that a bad

earthquake in Japan meant that the shares of Japanese banks and

insurance companies would become more profitable. In Zurich,

merchant banks felt it most moral to keep the accounts of their

depositors totally secret, especially if these accounts were being

used to defraud their own countries' tax authorities. In 2008 those

4

secretive banks were then defrauded. In Wall Street, Goldman

Sachs and Lehman Bros bid up their annual bonuses to millions of

dollars for each partner. In 2008 even Goldman Sachs made a loss

and Lehman Bros went bust.

A former chairman of the Federal Reserve argues that "fearful

investors clearly require a far larger capital cushion to lend

unsecured to any financial intermediary now". He therefore thinks

that taxpayers money should be ladled into them to make those

investors less fearful. This seems far more likely to make

depositors intermittently more terrified and cause any depression

into the 2010s to linger on and on.

In the 1930

s, the chief economic adviser to the government of

Siam was called Prince Damrong. I try always to remember it

- quote from former director of International Monetary Fund.

One of the few big banks to make a profit in 2008 was the

Grameen Bank (which means Village Bank) in that once basketcase

country called Bangladesh. The sole staff in a branch serving

several villages was once a woman student. It is now more usually

someone who has learnt to use the computer in the right way.

The rest of this report will examine how this marvellously costcutting

operation works.

Large banks mislending to the rich have run into losses that have created the slump. Politicians, thinking they are saving the world, are mislending huge sums to

these mislenders and will eventually make the slump worst.

5

How to create cost-cutting banks? To begin with

Consider Bangladesh - peculiar as this may seem.

START IN A STARVING VILLAGE

The Nobel peace prize for 2006 was controversially awarded, in

Oslo, to a "banker for the poor" in usually unfashionable

Bangladesh. Since the microcredit system pioneered by this Dr

Muhammad Yunus really has lifted record millions of Bangladeshi

women from the world's direst poverty, some of the world's

toughest tycoons have thrilled to his stated aim to "harness the

powers of the free market to solve the problems of poverty".

To his fans' delight and astonishment, he is achieving exactly that.

In the past quarter of a century, his Grameen Bank has lent

(without collateral or lawyers) increasing billions of dollars to

millions of poor women in the previously starving villages of

Bangladesh, and got an extraordinary 99% repayment back. His

often illiterate customers have started millions of successful small

businesses in unimagined fields like mobile telephone ladies and

saleswomen of the world's cheapest yogurt. All these successes

have been won by keeping costs incredibly low. A banking

operation that would cost Goldman Sachs $100 in New York or

London would cost Grameen in Bangladesh well under 100 cents.

This is a huge development in human history. Money can now be

directly channelled into productive use by the world's poorest

people, while unsuccessful lending to the rich has caused a world

slump. How do we switch custom to cost-cutting banks?

....

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KERRY GLASGOWIS HUMANITY'S LAST BEST CHANCE - Join search for Sustainaabilty's Curricula

101ways-generation.docx 101 ways education can save the world WHAT IF WE DESIGNED LIFELONG LIVELIHOOD LOEARNING SO THAT so that teachers & students, parent & communities were empowered to be ahead of 100 times more tech rather than the remnants of a system that puts macihnes and their exhausts ahead of human life and nature's renewal 2016 is arguably the first time thet educatirs became front and centre to the question that Von neummn asked journalist to mediate back in 1951- what goods will peoples do with 100 times more tech per decade? It appears that while multilaterals like the Un got used in soundbite and twittering ages to claim they valued rifghts & inclusion, pubblic goods & safety, they fotgot theirUN tech twin in Genva has been practising global connectivity since 1865, that dellow Goats of V neumnn has chiared Intellectual Cooperation in the 1920s which pervesrely became the quasi trade union Unesco- it took Abedian inspired educations in 2016 ro reunite ed and tecah as well as health and trade ; 7 decades of the UN not valuing Numenn's question at its core is quite late, but if we dare graviate UN2 aeound this digital coperation question now we give the younger half if the world a chnace especially as a billion poorest women have been synchronised to deep community human development since 1970

Dear Robert - you kindly asked for a short email so that you could see if there is a CGTN anchor in east coast who might confidentially share views with my expectation of how only Asian young women cultural movements (parenting and community depth but amplified by transparent tech in life shaping markets eg health, food, nature..) can return sustainability to all of us
three of my father's main surveys in The Economist 1962-1977 explain imo where future history will take us (and so why younger half of world need friendship/sustainable adaptation with Chinese youth -both on mainland and diaspora)
 1962 consider japan approved by JF Kennedy: argued good news - 2 new economic models were emerging through japan korea south and taiwan relevant to all Asia Rising (nrxt to link the whole trading/supply chains of the far east coast down through hong kong and cross-seas at singapore)
1 rural keynsianism ie 100% productivity in village first of all food security- borlaug alumni ending starvation
2 supercity costal trade models which designed hi-tech borderless sme value chains- to build a 20 million person capital or an 8 million person superport you needed the same advances in engineering - partly why this second economic model was win-win for first time since engines begun Glasgow 1760 ; potentially able to leverage tech giant leaps 100 times ahead; the big opportunity von neumann had gifted us - knowhow action networking multiply value application unlike consuming up things
1976 entrepreneurial revolution -translated into italian by prodi - argued that future globalisation big politics big corporate would need to be triangularised by community scaled sme networks- this was both how innovation advancing human lot begins and also the only way to end poverty in the sense of 21st C being such that next girl born can thrive because every community taps in diversity/safety/ valuing child and health as conditions out of which intergenerational economic growth can spring
in 1977 fathers survey of china - argued that there was now great hope that china had found the system designs that would empower a billion people to escape from extreme poverty but ultimately education of the one child generation (its tech for human capabilities) would be pivotal ( parallel 1977 survey looked at the futures of half the world's people ie east of iran)
best chris macrae + 1 240 316 8157 washington DC
IN MORE DETAIL TECH HUMAN EXPONENTIALS LAST CHANCE DECADE? 
 - we are in midst of unprecedented exponential change (dad from 1960s called death of distance) the  tech legacy of von neumann (dad was his biographer due to luckily meeting him in his final years including neumann's scoping of brain science (ie ai and human i) research which he asked yale to continue in his last lecture series). Exponential risks of extinction track to  mainly western top-down errors at crossroads of tech  over last 60 years (as well as non transparent geonomic mapping of how to reconcile what mainly 10 white empires had monopoly done with machines 1760-1945 and embedded in finance - see eg keynes last chapter of general theory of money); so our 2020s destiny is conditioned by quite simple local time-stamped details but ones that have compounded so that root cause and consequence need exact opposite of academic silos- so I hope there are some simple mapping points we can agree sustainability and chinese anchors in particular are now urgently in the middle of
Both my father www.normanmacrae.net at the economist and I (eg co-authoring 1984 book 2025 report, retranslated to 1993 sweden's new vikings) have argued sustainability in early 21st c will depend mostly on how asians as 65% of humans advance and how von neumann (or moores law) 100 times more tech every decade from 1960s is valued by society and business.
My father (awarded Japan's Order of Rising Sun and one time scriptwriter for Prince Charles trips to Japan) had served as teen allied bomber command burma campaign - he therefore had google maps in his head 50 years ahead of most media people, and also believed the world needed peace (dad was only journalist at messina birth of EU ) ; from 1960 his Asian inclusion arguments were almost coincidental to Ezra Vogel who knew much more about Japan=China last 2000 years ( additionally  cultural consciousness of silk road's eastern dynamics not golden rule of Western Whites) and peter drucker's view of organisational systems
(none of the 10 people at the economist my father had mentored continued his work past 1993- 2 key friends died early; then the web turned against education-journalism when west coast ventures got taken over by advertising/commerce instead of permitting 2 webs - one hi-trust educational; the other blah blah. sell sell .sex sell. viral trivial and hate politicking)
although i had worked mainly in the far east eg with unilever because of family responsibilities I never got to china until i started bumping into chinese female graduates at un launch of sdgs in 2015- I got in 8 visits to beijing -guided by them around tsinghua, china centre of globalisation, a chinese elder Ying Lowrey who had worked on smes in usa for 25 years but was not jack ma's biographer in 2015 just as his fintech models (taobao not alibaba) were empowering villagers integration into supply chains; there was a fantastic global edutech conference dec 2016 in Tsinghua region (also 3 briefings by Romano Prodi to students) that I attended connected with  great womens education hero bangladesh's fazle abed;  Abed spent much of hs last decade hosting events with chinese and other asian ambassadors; unite university graduates around sdg projects the world needed in every community but which had first been massively demonstrated in asia - if you like a version of schwarzman scholars but inclusive of places linking all deepest sustainability goals challenges 
and i personally feel learnt a lot from 3 people broadcasting from cgtn you and the 2 ladies liu xin and  tian wei (they always seemed to do balanced interviews even in the middle of trump's hatred campaigns), through them I also became a fan of father and daughter Jin at AIIB ; i attended korea's annual general meet 2017 of aiib; it was fascinating watching bankers for 60 countries each coming up with excuses as to why they would not lead on infrastructure investments (even though the supercity economic model depends on that)
Being a diaspora scot and a mathematician borders (managers who maximise externalisation of risks) scare me; especially rise of nationalist ones ;   it is pretty clear historically that london trapped most of asia in colomisdation ; then bankrupted by world war 2 rushed to independence without the un or anyone helping redesign top-down systems ; this all crashed into bangladesh the first bottom up collaboration women lab ; ironically on health, food security, education bangladesh and chinese village women empowerment depended on sharing almost every village microfranchise between 1972 and 2000 especially on last mile health networking
in dads editing of 2025 from 1984 he had called for massive human awareness by 2001 of mans biggest risk being discrepancies in incomes and expectations of rich and poor nations; he suggested that eg public broadcast media could host a reality tv end poverty entrepreneur competition just as digital media was scaling to be as impactful as mass media
that didnt happen and pretty much every mess - reactions to 9/11, failure to do ai of epidemics as priority from 2005 instead of autonomous cars, failure to end long-term carbon investments, subprime has been rooted in the west not having either government nor big corporate systems necessary to collaboratively value Asian SDG innovations especially with 5g
I am not smart enough to understand how to thread all the politics now going on but in the event that any cgtn journalist wants to chat especially in dc where we could meet I do not see humans preventing extinction without maximising chinese youth (particularly womens dreams); due to covid we lost plans japan had to relaunch value of female athletes - so this and other ways japan and china and korea might have regained joint consciousness look as if they are being lost- in other words both cultural and education networks (not correctly valued by gdp news headlines) may still be our best chance at asian women empowerment saving us all from extinction but that needs off the record brainstorming as I have no idea what a cgtn journalist is free to cover now that trump has turned 75% of americans into seeing china as the enemy instead of looking at what asian policies of usa hurt humans (eg afghanistan is surely a human wrong caused mostly by usa); a; being a diaspora scot i have this naive idea that we need to celebrate happiness of all peoples an stop using media to spiral hatred across nations but I expect that isnt something an anchor can host generally but for example if an anchor really loves ending covid everywhere then at least in that market she needs to want to help united peoples, transparency of deep data etc

2021 afore ye go to glasgow cop26-

please map how and why - more than 3 in 4 scots earn their livelihoods worldwide not in our homeland- that requires hi-trust as well as hi-tech to try to love all cultures and nature's diversity- until mcdonalds you could use MAC OR MC TO identify our community engaging networks THAT SCALED ROUND STARTING UP THE AGE OF HUMANS AND MACHINES OF GKASGOW UNI 1760 1 2 3 - and the microfranchises they aimed to sustain  locally around each next child born - these days scots hall of fame started in 1760s around   adam smith and james watt and 195 years later glasgow engineering BA fazle abed - we hope biden unites his irish community building though cop26 -ditto we hope kamalA values gandhi- public service - but understand if he or she is too busy iN DC 2021 with covid or finding which democrats or republicans or american people speak bottom-up sustainable goals teachers and enrrepreneurs -zoom with chris.macrae@yahoo.co.uk if you are curious - fanily foundation of the economist's norman macrae- explorer of whether 100 times more tehc every decade since 1945 would end poverty or prove orwell's-big brother trumps -fears correct 2025report.com est1984 or the economist's entreprenerialrevolutionstarted up 1976 with italy/franciscan romano prodi

help assemble worldrecordjobs.com card pack 1in time for games at cop26 glasgow nov 2021 - 260th year of machines and humans started up by smith and watt- chris.macrae@yahoo.co.uk- co-author 2025report.com, networker foundation of The Economist's Norman Macrae - 60s curricula telecommuting andjapan's capitalist belt roaders; 70s curricula entreprenurial revolution and poverty-ending rural keynesianism - library of 40 annual surveys loving win-wins between nations youth biographer john von neumann


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