Read e-book online Business one: one Intermediate: Intermediate Student's Book PDF

By Appleby R., Bradley J., Brennan B.

The 1st company direction written particularly for one-to-one instructing.

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Exposed to Wall Street trading practices, he formulated a new perspective on business, one that had been slowly emerging at Swarthmore and then Wharton. What had once seemed straightforward and simplistic, he began to see as a creative intellectual challenge. “I had thought that business and finance was boring and all about making money, probably an idea I got from my father, who was a lawyer,” says Quadir. Now, he came to realize, business could provide economic solutions to problems that he had once considered political or technical.

The success of the Marshall Plan in rebuilding war-torn Europe and Japan seemed to confirm this theory. But there was a key missing ingredient, uncovered by economist Robert Solow. Solow’s surprise, first published in two papers in 1956 and 1957 7 (and still the dominant theory of economic growth taught in universities today), is that capital plays a relatively minor role in growth. True, a business or country with low levels of machines can grow fast in the short term by adding more machines to catch up with excess labor, but there comes a point of diminishing returns.

Asked Yunus. Perhaps, he suggested, “the banks are not people-worthy. Saying that the poor cannot be given credit is like saying man cannot fly. ” 4 For three years he and his graduate students continued their experiments with more than 500 borrowers, until in 1979 the Central Bank agreed to operate the “Grameen Project” from seven staterun banks. In 1983, when Grameen had 59,000 clients in eighty-six branches, Yunus left academia and officially launched Grameen Bank to distribute small loans to poor villagers.

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Business one: one Intermediate: Intermediate Student's Book Pack by Appleby R., Bradley J., Brennan B.

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