

Yak herders in Mongolia may seem like the most unlikely of bank customers. There’s little infrastructure in their largely rural country, making it tough to find a local branch office. But in these sparsely populated steppes, opening a personal savings account is increasingly seen as a first step out of extreme poverty, according to international microfinance leaders. Altan Govii Shiree Cooperative The Altan Govii Shiree cooperative is located in one of southern Mongolia's most scenic...

By Anna Simpson Solar-powered cooker wins $75,000 in the FT Climate Change Challenge A solar-powered cardboard cooker, which aims to transform the lives of hundreds of millions of villagers in developing countries, is the winner of a $75,000 prize in a global competition for innovation to tackle climate change. The Kyoto Box is targeted at the two billion people who use firewood for cooking, and has the potential to deliver huge environmental and social benefits. “We’re saving lives...

By Paul Glover The Dark Season closes around Philadelphia. Wolves howl, "Tough times coming!" Young professionals with good jobs study budget cuts, watch stocks flail. Career bureaucrats are laid off; college students wonder who's hiring. Old-timers remember when Philadelphia staggered through the terrible Depression years without jobs or dollars, while crime and hunger rose. Some districts here never escaped that Depression — they're still choosing between heating and eating. As usual,...

Before the 1950s, the desert city of Abu Dhabi was a vastly different place, characterized by grass huts, nomadic tribes, and a simpler way of life. Fast forward six decades past oil discovery, and you will find all the manufactured glitz and glamour of a modern-day Las Vegas; world-class hotels, unprecedented development, and an incredible amount of wealth. Abu Dhabi is now the capitol of the United Arab Emirates, which claims the world’s third largest GDP (behind Luxemburg and Norway)...

Lunch talks at the Berkman Center usually promise a challenging room, filled with smart people asking tough questions. But it’s rare that speakers have as tough an act to follow as Peter Semmelhack of Bug Labs whose lunch talk fell directly on the tail of President Obama’s inaugural address, watched on lossy streaming video by a room full of Berkfolk. Semmelhack is the Founder and CEO of Bug Labs, a group focused on “bottom-up, community based innovation” in the...

By Erica Lee Schlaikjer A group of foreigners doing business in Shanghai recently hatched a new idea to bring "design with a conscience" to the China market. NEST, as the retail collective is called, aims to unite "intelligent design" with "responsible manufacturing" through collaboration among eight different brands selling sustainable products, including Wobabybasics organic baby clothes; AOO recyclable furniture; and Jooi Design home decor and fashion accessories. The project is sponsored...

By Grace Augustine It is impossible to argue against the need for reliable energy at the base of the pyramid (BoP). Energy drives every facet of society, from nourishment to communication. According to the UNDP, at least 1.2 billion people suffer from energy poverty, which has profound impact on health, education, and livelihoods.Increasingly, people are calling for the new energy models in developing nations to be "sustainable" and drawn from "clean" and renewable...

The other day in New York, I had the pleasure of attending a round table organized by the Council on Foreign Relations entitled The Commercialization of Microfinance: The Good, The Bad and The Ugly. Moderated by CFR Senior Fellow Isobel Coleman, the discussion featured comments from Mary Ellen Iskenderian (of Women's World Banking) and Roshaneh Zafar (of the Kashf Foundation.) I arrived early, set up my laptop and grabbed a bite to eat (if you're curious, the CFR building is beautiful and...

By Tom Prugh A few years ago, a homeowner in Las Vegas—a place that gets maybe five inches of rainfall a year—was confronted by a water district inspector for running an illegal sprinkler in the middle of the day. The man became very angry. He said, “You people and all your stupid rules—you’re trying to turn this place into a desert!” Ideas about how the world works that don’t accord with reality can be unhelpful. That’s especially true about mainstream economics, which is...
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