1. EMPOWERMENT... in a globalized world The act of taking authority or control over some aspect of one’s life. Unit 7: Responsibility and Hope for the Future

2. Meaning: the world is so large and its population so great that individuals often feel insignificant and unable to control important aspects of their lives. Do you think this is a problem? The problem with globalization is that it is so global

3. Socially Responsible Investing  Is it possible to invest money while being socially responsible?  When people who believe in SRI make decisions about how to invest their money, they take their moral values into consideration and choose companies who share these values.  Avoid investing in companies that damage the environment or cause illness.  SRI growing quickly in Canada ($64 billion in 2004 to $504 billion in 2006)

4. Microcredit  Providing small amounts of money to people to help build a better livelihood and break out of the cycle of poverty  Pioneered by: Dr. Muhammad Yunus from Bangladesh  2000 delegates from over 110 countries  Rep. over 3000 microcredit institutions  Helped almost 100 million of the world’s poorest people Definition/OriginGlobal Microcredit Summit

5. Kiva: A microcredit example  Kiva's mission is to connect people through lending for the sake of alleviating poverty.  Kiva is the world's first person-to-person micro- lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world  www.kiva.org www.kiva.org

6. Success and Development  High repayment rates  Little amount needed for great amounts of success  Provides $$ to people who would otherwise not be granted loans from larger financial institutions  CIDA spends about $32 million on microcredit in developing countries  Larger banks are not involved b/c they see this as too high a credit risk  Formal institutions are needed in order to expand (ie. MicroPlace, Kiva, etc.)  Need to get UN and World Bank involved and dedicated to helping the disadvantaged SuccessDevelopment

7. Final thoughts for today  Poverty exists to a great extent b/c society has created institutions, including banks and governments, that discriminate against a wide variety of people, such as the poor.  This discrimination is not necessarily deliberate, but reflects a lack of understanding about people’s practical situations.  Ultimate solution: institutions have a responsibility to ensure all people are treated with respect and human dignity.

8. In your notes:  Using text p. 440-442  Complete an “In the News” profile of Dr. Yunus’ (use p. 14 of the text to help you)  What are the 7 principles of the Grameen Bank?  Choose an individual/group that you would loan money to using Kiva  How much would you loan?  Describe the person/group you chose. Why did you choose this person?  Might this be something you might actually consider? Why or why not?