The Lives of The World’s Poorest Aren’t Exactly What You’d Think.
Portfolios of the Poor (2009) details the creative financial strategies that the world’s poorest people use to get by. These blinks explain how people with no educational background whatsoever manage their finances.
Who should read this ?
- People who want to understand the realities faced by the world’s poor
- Those seeking productive ways to end poverty
Who wrote the book?
Daryl Collins is the senior associate at Bankable Frontier Associates in Boston. She was responsible for organizing the latest version of the financial diaries in South Africa and holds both a B.Sc., and an M.Sc in Economics from the London School of Economics.
The other three authors, Jonathan Morduch, Stuart Rutherford and Orlanda Ruthven, are all experts in economics with international experience, primarily in microeconomics.
What’s in it for me? Learn that the lives of the world’s poorest aren’t exactly what you’d think.
Have you ever given any money to OXFAM? Maybe you’ve donated to Save the Children or Christian Aid? Chances are, a lot of you will have, at some point in your life, given to an organization focused on helping the poorest people in the world.
When we see images of hungry, impoverished people in the media, we can’t help but feel like they need our help, which may prompt us to give to NGOs and charities. However, this might not be the best way to help.
These blinks explain why the developed world’s view of global poverty is inaccurate. Extreme poverty does not turn people into charity cases, unable to help themselves. In fact, those who live in poverty are incredibly smart financially, and have many complex networks for raising capital and making investments.
In this post, you’ll discover:
- how those without writing skills are able to keep track of financial commitments;
- why living on $2 per day isn’t what it seems; and
- why merely having a bank account can be a way out of poverty.