The Foundation's experiences are that Western macroeconomics and macromedia accidentally spun ever less economic outcomes in many global markets - Norman's last article on the Yunus-inspired potential for 10 time more economic community banking be one case


The Foundation welcomes any opportunity to journalise the 50 most exciting projects using yunus type models, inviting youth's most heroic goals and matching leadership investment


First Year Report

Approximately $100000 has been invesnetd in each of these 3 areas:


Journal of Social Business


vaiosus micromedi for youth hubs and leafleting and mebryponic portals - for example our leaflet format entrepreneurial bangaldesh is updated at each new major networking evfenjt - eg The Economist boardroom 50 person celebration of Norman Macrae and Muhhamd Yunus Economics Nov 2011


Jamii Bora and maps of Africa's most exciting mobile networks of youth


Norman's Ftaher-in_law workled for 25 years with Mahtama Gnadhi and was fascinated by how Gandhi innovated a totally new eductaion system befrore directly mediating India'sfuture beyoind English Empire. So we are also extremely interested in revolutionary educational projuects empowering job creation and directing productivity of youth to serving heroic goals they vote for


Prior to setting up Norman Macrae Foundation we had spent much of 3 years surveying 2000 people's views on yunus book and circulating 10000 dvds on greatest projects of Grameen in Dhaka


Some of the people who most supported Norman's beliefs and publications:

1976 Roman Prodi translated contiental europe version sof Norman Macrae's survey of Entrepreneurial Revolution in The Economist Dec 1976


The Imnperial family of japan celevbrated Noiramn'[s interaction of economics with Japanese Global Marketing with ward of Order of Rising Sun with Gold bars for making our global marketing more joyful than it would otherwise have been


Sloan management school provided Norman with advances fo0r his Biography on Von Neumann - whose views on the compound reisks economics were perpetrating were even more vivid than Norman's


More technocal references


Norman Macrae 1955 The London Cpoital Market - conclusion Capital Markets are the main conssitiution peoples in p plavce have for investing in intergenerational development; 1972 updateThe Next 40 year- the idea that capital markets should be for global corporations that owe no responsobility to peoples whose savings they take will, if not chnaged, compound global finacial meltdonw by 2010s


1962 Consider Japan: The most exciting nation for everyone to trade with over the next quarter of a century


1963 Sunshades in October- since world war 2 a njew species "macroeconomist" has grwon like topsy- it is sponsored by big government and short-term speculators; its rules pose the gereats riskl to te future of youth


1976 Entrepreneurial Revolution - the last quarter cenbtiry has compounded 10 macroeconoomic errors; the next quarter centiuryfaces the exciting chalenge of redesigning all organsiational system to regain entrepreneurial capacvity- we need to explore how to do this inj diverse ways before nay trends to go global


1984 The net generation faes greaster wordklwide chnage than any in hostory - thios will lead to one of 2 opposite outcomes- euther an era of 10 timesgreater human productivity or george orwell's big brother outcome


....................................................How to Avert A Great Depression Through the Hungry 2010s?

Answer, By Making All Banking Very Much Cheaper

This was The Economist's Norman Macrae's last article written in December 2008


 If banks in rich democracies had been truly competitive institutions, at least one of them somewhere would have seized he main opportunity created by the computer.


This main opportunity was to make all deposit-banking vastly cheaper than ver before. By this cheapening it should make such banking hugely more profitable. Then further competition would search for the cheapest ways to guide all the world's saving into the most profitable (or otherwise most desirable) forms of capital investment, thus enriching all mankind.


Instead, during 2008 the total losses of banks in rich democracies - in North America, West Europe and Japan - soared into trillions of dollars. Fearful for their solvency, these banks virtually stopped lending. The issuance of corporate bonds, commercial paper, and many other financial products largely ceased. Hedge and insurance firms also crashed.


Mankind is thus threatened in the 2010s with its longest great depression since the hungry 1930s.


Why? The strange answer seems to be that other happy

consequences of modern technology promised to make this

cheapening even faster. Call centres in Bangalore vastly undercut the middle class salaries of Midland bank clerk who until the 1950s expensively answered clients' questions in their branches in the City of London.


Cheap mobile phones kept village ladies in once miserable Bangladesh as fully in touch with market prices as

is the chief research officer of the First National Bank of

Somewhere in California. His weekly salary is still 1000 times

greater than the previous annual earnings of that village lady.


The cost-effective way of running the old Midland or First National

then seemed to be to cut its total salary cost by something like

99%. This did not please Western welfare governments, or the

decent chief executives of the old Midland or First National bank.



Awaiting the sensation of a short sharp shock

From a cheap and chippy chopper on a big black block

- WS Gilbert in The Mikado - why it is uncomfortable to work in an

industry which needs 99% redundancies.


Western welfare governments have long preferred to run their

banks in high cost cartels, and even invented reasons why this

seems to be moral. Their deposit-banks have usually kept in cash

only 10% of the total amount deposited with them. If 11% of

depositors suddenly feared that their banks might go bust, this

could accelerate a run that would send them bust indeed.


Governments therefore thought that depositors would be less

fearful if they were assured that the banks were officially and

tightly regulated. Actually, this mainly meant that the banks had

to hire ever more expensive lawyers so as to escape any crippling

consequences from this regulation. The attached quote shows

that Samuel Pepys understood this fact of life in his Diaries of July

21, 1662.

I see it is impossible for the King to have things done so cheaply

as do other men-- Samuel Pepys on discovering an important commercial fact of life in his Diary, 21 July, 1662


The decent bosses of the deposit banks felt that the best way of avoiding sacking nine tenths of their staffs was by competing with a very different sort of financing called merchant banking whose earnings and bonuses were far more generous than those given to their own staff. These merchant banks were of peculiarly differing pedigree.


In London, it was assumed that they could best

be run by families like Barings who had done the job for over 200 years. In the 1990s, Barings went totally bust because one of its hired traders bet much of its money on a hunch that a bad earthquake in Japan meant that the shares of Japanese banks and insurance companies would become more profitable.


In Zurich, merchant banks felt it most moral to keep the accounts of their

depositors totally secret, especially if these accounts were being

used to defraud their own countries' tax authorities. In 2008 those

secretive banks were then defrauded.


 In Wall Street, Goldman Sachs and Lehman Bros bid up their annual bonuses to millions of dollars for each partner. In 2008 even Goldman Sachs made a loss and Lehman Bros went bust.


A former chairman of the Federal Reserve argues that "fearful

investors clearly require a far larger capital cushion to lend

unsecured to any financial intermediary now". He therefore thinks

that taxpayers money should be ladled into them to make those

investors less fearful. This seems far more likely to make

depositors intermittently more terrified and cause any depression

into the 2010s to linger on and on.


In the 1930. the chief economic adviser to the government of
Siam's was called Prince Damrong. I try always to remember it- quote from former director of International Monetary Fund.


One of the few big banks to make a profit in 2008 was the

Grameen Bank (which means Village Bank) in that once basketcase

country called Bangladesh. The sole staff in a branch serving

several villages was once a woman student. It is now more usually

someone who has learnt to use the computer in the right way.


The rest of this report will examine how this marvellously costcutting

operation works. Perhaps the most relevant and terrifying

analogy is to commercial airlines. In 1945, there were only a tiny

number of passenger airmiles flown on them. In each successive

year these increased hugely and in this slump time 2009 there will be billions of passenger airmiles flown. In the late 1940s most governments therefore created national airlines and were confident they would flourish in this boom industry, with official

regulation assuring they would be safe. Instead all proceeded to

lose money, and later privatised but large airlines also did. The

present trend is to cost cutting airlines like Ryan Air.


The same will happen to banks. Large banks mislending to the

rich have run into losses that have created the slump. Politicians,

thinking they are saving the world, are mislending huge sums to

these mislenders and will eventually make the slump worst.


How to create cost-cutting banks? To begin with Consider Bangladesh- peculiar as this may seem..

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Which World Class Projects urgently need pro-youth investors?

About Pro-Youth economics at Norman Macrae Foundation online library of norman macrae - The Economist's Unacknowledged Giant -videos 1 2 -fansweb  NMFoundation- youth projects - include yunuschoolusa


fullest press reports  Grameen Brand Partnership Architecture

exponential impact advisory: the social business youth networks inspired by muhammad yunus -without which millennium goal actions networks would be way behind are worth far more than any individual parts according to Norman Macrae Foundation  trilliondollaraudit methodology and charter notespace

Beyond the extraordinary investment of the members bank at Grameen, and the approximate third share its members foundation holds in grameenphone, here is our Unofficial League Table of Most Impactful Social Business Investments around yunus - last update 1 dec 2012

! Grameen Solar

Grameen Mobile Nursing nets and college

3 Portfolio of investments linkedin by Japan

4 Portfolio of youth-led networking inventions in US educationsystem  tertiar and secondary - transparency note NM Foundation has minor donation/loan interest

5 Investments in Grameen as collaboration brand linked in out of paris- the origin of global social business partnership funds

6 OpenTech investments of Grameen Intel


-------- while not controlled by yunus we see wholeplanetfoundation microcredit investment table and conscious capitalsm movements and hugely important to advancing pro-youth economicsmission of friends of youth and yunus


email chris.macrae@yahoo.co.ukif you have questions or recommendations of entries that should be in this league table

-please read notes about what pro-youth economists mean by superapps being most impactful

Nov 2011 Europe's last super summits?- G20 3-4 Cannes; SB ac 9 gen 10-12 vienna; MC near madrid 14-17  European Union Nov 18 

click pic to download journal of pro-youth economics sampled by post to 3000 leaders chosen by Yunus

papers world microcreditsummit 2011


2010s Global Village Economics Races- will youthand societies win the race to:

  • bankabillion people directly on mobile phones - if so 10 times lower transactional costs can change every assumption of economics
  • Good News Media- even before Rupert Murdoch's expose filmakers like Will Wenders showed there is notimefelt to empower youth with joyful world service media
  • Will first 10000 entrepreneurial rural telecentres be owned mutually for poorest in communities or by Bill Gates- how does this depend on whether giving circles of billanthropists use microeconomic or macroeconomics's opposite valuation metrics?


SB Stockmarkets:

  • A) banking & financial services
  • B) green including energy and food and water
  • C) goodwill media, tech and edu
  • D) health

Next Pro-Youth & Ynuus Deadlines

18 Januray 2013 Alabama

30 January 2013 Tokyo

rsvp chris.macrae@yahoo.co.ukto share news of these and other key youth and yunus events




India 2011 Law on Microcredit


BBC and Murdoch 

Call for microcreditsummit to launch SB stockmarket of banks

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