A Billion Bootstraps: Microcredit, Barefoot Banking, and The Business Solution for Ending Poverty (Hardcover)

by Philip Smith (Author), Eric Thurman (Author)
Key Phrases: barefoot banking, microcredit providers, billion black hole, Microcredit Plus, United States, World Bank (more...)

Editorial Reviews

Product Description

A bold manifesto by two business leaders, A Billion Bootstraps shows why microcredit is the world's most powerful poverty-fighting movement-and an unbeatable investment for your charitable donations.

A Billion Bootstraps unearths the roots of the microcredit revolution, revealing how the pioneering work of people such as Dr. Muhammad Yunus-winner of the 2006 Nobel Peace Prize-is giving hope to billions. Philanthropist and self-made millionaire Phil Smith and microcredit expert and consultant Eric Thurman provide a riveting narrative that explores how these small loans, arranged by “barefoot bankers,” enable impoverished people to start small businesses, support their families, and improve local economies. By paying back their loans instead of simply accepting handouts, men and women around the world are continually giving others the same opportunity to change their futures.

Smith and Thurman also examine why traditional charity programs, while providing short-term relief, often perpetuate the problems they are trying to alleviate, and how applying investment principles to philanthropy is the key to reversing poverty permanently.

A Billion Bootstraps explains how ordinary people can accelerate the microcredit movement by investing charitable donations in specific programs and then leveraging those contributions so the net cost to lift one person out of poverty is remarkably low. You'll discover how to get more for your money by donating with the mind-set of an investor and calculating measurable returns-returns that will change lives and societies forever.

From the Back Cover

For the greatest returns, invest in humanity

“Phil and Eric have done us a favor by breaking down the challenges of growth for microfinance into bite-sized elements any reader can benefit from, and have challenged and inspired us all to get more involved ... they have done an admirable job showing us what is happening, what is possible, and what we can do from their perspective as successful business people.”-Muhammad Yunus, 2006 Nobel Peace Prize winner, from the Foreword

“A Billion Bootstraps shows how successful people in the West can use sound business practices to create economic opportunities for poor families in other parts of the world.”-Sir John Templeton, legendary investor and founder of the John Templeton Foundation

“True charity attacks life's greatest injustices, demands major, demonstrable results, and avoids ego gratification. In A Billion Bootstraps, Phil Smith and Eric Thurman make an effective case that microcredit is the purest charitable strategy.”-George Kaiser, founder of the multi-billion dollar Tulsa Community Foundation and chairman of BOK Financial Corp.

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Product Details

• Hardcover: 224 pages
• Publisher: McGraw-Hill; 1 edition (February 7, 2007)
• Language: English
• ISBN-10: 0071489975
• ISBN-13: 978-0071489973
• Product Dimensions: 9.1 x 6.3 x 0.9 inches
• Shipping Weight: 1.1 pounds (View shipping rates and policies)
• Average Customer Review: 4.6 out of 5 stars See all reviews (16 customer reviews)
• Amazon.com Sales Rank: #254,408 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

6 of 6 people found the following review helpful:

5.0 out of 5 stars A Compelling Summary, February 19, 2007

By	Peter Greer (Lancaster, PA USA) - See all my reviews

As a microfinance practitioner I have long struggled to find a book to recommend that succinctly summarizes the power of microfinance. It is easy to delve into the technical details and forget the fundamental reasons for how and why microfinance is lifting millions out of crushing poverty.

With A Billion Bootstraps I finally have it: a book that accurately, briefly, and compellingly summarizes this approach to poverty alleviation. I highly recommend it to those who would like an overall description of microfinance, an understanding of why it could be the most effective way of addressing poverty in today's world, and, most importantly, ways to get involved.

Peter Greer

President, HOPE International

6 of 6 people found the following review helpful:

5.0 out of 5 stars Permanent Solutions to Poverty, February 19, 2007

By	Jeff Rutt (Lancaster, PA) - See all my reviews

I wish I had this book 14 years ago. I could have avoided a lot of mistakes and wasted effort as I tried vainly to "help the poor".

At that time, others from my church and I were seeking to assist low-income Ukrainians as they struggled to emerge from the ashes of the former Soviet Union. Over a few years we tried lots of things - from handouts to giving equipment to start a medium-size business. Nothing worked, until we discovered the power of microfinance - described so movingly in A Billion Bootstraps.

For anyone seeking to make a significant, lasting difference in the lives of thousands, even millions of people, this resource is a great place to start. I have found that microfinance provides permanent solutions to poverty. The authors of A Billion Bootstraps have shown that clearly.

Jeff Rutt

President, Keystone Custom Homes

5 of 5 people found the following review helpful:

5.0 out of 5 stars making a difference beyond you, February 22, 2007

By	James D. Payne "President/CEO PGS Companies" (US) - See all my reviews (REAL NAME)

The "micro-credit, banking, and business" subtitle may sound like a book for a retired economist or a smarter/richer person than you (it did me...): DO NOT BE FOOLED! Consider my subtitle: keys to making a difference beyond you ...

A motivating book, that will not only help you recognize the blessings in your life, but is guaranteed to challenge your current life position, purpose, direction, and effort(s). You will be driven to take action. Have you ever asked yourself "How can I really make a difference in a world with so many problems"? This book, in the first three chapters alone, will clearly answer that question and:

* Give you a clear and concise understanding of the needs of HURTING PEOPLE around the world, the need!
* Educated you with regards to several other methods people often choose in attempt to address the obvious need.
* Bring to the surface strong feelings of anger/pity/ignorance not for the hurting people, but for the people who have sold-out to mainstream approaches to ending poverty.
* Cause you to question if you are putting forth enough effort, efficient effort, or any meaningful effort at all?
* Regardless of the size of a contribution, should we not (being a good steward) make certain our giving/gifts/efforts are impacting as many hurting people as possible?
* Motivate you to look beyond the next charitable event/occasion or at least not leave your brain at coat-check.

Regardless of your self-worth or net-worth, either step-up and learn something or simply humble yourself to a new approach.

The solution to helping hurting people now seems obvious to me. Enjoy...