Portfolios of the Poor: How the World's Poor Live on $2 a Day

Portfolios of the Poor: How the World's Poor Live on $2 a Day

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by Daryl Collins
     
 

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ISBN-10: 0691148198

ISBN-13: 9780691148199

Pub. Date: 12/19/2010

Publisher: Princeton University Press

Nearly forty percent of humanity lives on an average of two dollars a day or less. If you've never had to survive on an income so small, it is hard to imagine. How would you put food on the table, afford a home, and educate your children? How would you handle emergencies and old age? Every day, more than a billion people around the world must answer these questions

Overview

Nearly forty percent of humanity lives on an average of two dollars a day or less. If you've never had to survive on an income so small, it is hard to imagine. How would you put food on the table, afford a home, and educate your children? How would you handle emergencies and old age? Every day, more than a billion people around the world must answer these questions. Portfolios of the Poor is the first book to systematically explain how the poor find solutions to their everyday financial problems.

The authors conducted year-long interviews with impoverished villagers and slum dwellers in Bangladesh, India, and South Africa—records that track penny by penny how specific households manage their money. The stories of these families are often surprising and inspiring. Most poor households do not live hand to mouth, spending what they earn in a desperate bid to keep afloat. Instead, they employ financial tools, many linked to informal networks and family ties. They push money into savings for reserves, squeeze money out of creditors whenever possible, run sophisticated savings clubs, and use microfinancing wherever available. Their experiences reveal new methods to fight poverty and ways to envision the next generation of banks for the "bottom billion."

Indispensable for those in development studies, economics, and microfinance, Portfolios of the Poor will appeal to anyone interested in knowing more about poverty and what can be done about it.

Product Details

ISBN-13:
9780691148199
Publisher:
Princeton University Press
Publication date:
12/19/2010
Edition description:
New Edition
Pages:
312
Sales rank:
147,376
Product dimensions:
6.00(w) x 9.10(h) x 0.80(d)

Table of Contents

List of Tables vii

List of Figures ix

Chapter 1 The Portfolios of the Poor 1

Chapter 2 The Daily Grind 28

Chapter 3 Dealing with Risk 65

Chapter 4 Building Blocks: Creating Usefully Large Sums 95

Chapter 5 The Price of Money 132

Chapter 6 Rethinking Microfinance: The Grameen II Diaries 154

Chapter 7 Better Portfolios 174

Appendix 1 The Story behind the Portfolios 185

Appendix 2 A Selection of Portfolios 211

Acknowledgments 243

Notes 247

Bibliography 265

Index 273

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Portfolios of the Poor: How the World's Poor Live on $2 a Day 4 out of 5 based on 0 ratings. 2 reviews.
DadsLibrary More than 1 year ago
This book is exactly what it should be if it is intended for serious students or analysts developing policies. I enjoyed it, but it could profit by a parallel book for non-policy analysts. That book could show the conclusions, with a lot less discussion of the methodology used. That book could be about 1/3 the length of this one.
Anonymous More than 1 year ago