Book Review – FINANCIAL INCLUSION : Give People a Job not a Loan

The Author ( Dr. Ascanio Graziosi) has developed his idea taking from the recommendations and suggestions issued by the international financial establishment (G-20, 2015-Post Evaluation Analysis, Rio+20 UN 2030 Agenda on SDGs). Within this background information he has worked out a proposal within the picture of a comprehensive, genuine and structured framework, having as a reference the Consultative Document on microfinance activities released within Basel III in 2010 and then updated in 2015, all of which has inspired his work.

According to the Author, to understand the current approach to financial inclusion a preliminary step is to look into the microfinance trend, which is the main vehicle to expand financial products in favour of poor people. He claims that, over the years, microfinance activities have disclosed situations that have been in contradiction with the fundamentals of fair contractual terms, along with inappropriate assumptions and inconsistency of the methodological approach. Starting from this point, the Author has elaborated on Basel III document to restore a correct decision making process and, in so doing, reinstate the truthful significance of credit, which means confidence. He said that sustainable microfinance is the best way to create durable jobs and eradicate poverty.

On financial inclusion he has a pioneering position and has raised a word of caution on what he has called the easy way to digitalization of micro financial services; what is more, he claims that financial inclusion without economic inclusion could be a disillusion for the lender, an illusion for the client and a likely implosion for the community. In this context, Dr. Graziosi provides an attractive approach, which is well synthesized in the book sub-title “Give people a job not a loan”. With this declaration the Author has almost phased out the financial way to development and replaced it with the EMPLOYMENT-BASED WAY TO DEVELOPMENT, thus re-designing the entire architecture of the approach in favour of poor people.

He has investigated into the position of microfinance as a circuit of the global finance and therefore its trend to reproduce the ups and downs of the financial capitalism trend and its inadequacy to foster the emerging economies as well. Those who are looking for a guide to design a new product, the book provides useful guidelines. In addition, he has completed his viewpoint by investigating the contractual conditions of experts, consultants and practitioners working overseas with donor-funded programmes. On this matter, he has concluded that Practitioners/ Experts/Developers employment status has implications for the quality of outcome.

As an author of Mass Capitalism, I would highly recommend the readers at large to read this book and help plan a decentralized economy which helps in creating more jobs in an economy for poor people in this world. We cannot have a sustainable economy without eliminating poverty from this world.

About me

Apek Mulay is a Business and Technology Consultant at Mulay’s Consultancy Services. He has authored a trilogy in three consecutive years viz. Mass Capitalism: A Blueprint for Economic Revival (2014), Sustaining Moore’s Law: Uncertainty Leading to a Certainty of IoT Revolution (2015) and How the Information Revolution remade Business, and the Economy: A Roadmap for Progress of the Semiconductor Industry with More than Moore and Beyond Moore (2016). His monograph on technology is entitled Improving Reliability of Tungsten Plug Via on an Integrated Circuitry: Process Flow in BiCMOS and CMOS technology with Failure Analysis, Design of Experiments, Statistical Analysis & Wafer Maps (2016). Mulay is author of patent Surface Imaging with Materials Identified by Colors. USCIS honored him with US permanent residency under the category of foreign nationals with extraordinary abilities in science and technologies. He engineer, economist, author, blogger and social entrepreneur in an e-commerce business

Mass Capitalism is also available as Audio book on Audible. It is being translated into local Indian language to be released in India as well as Mandarin language to be released in China. Also, Mass Capitalism’s author is actively looking for collaborations to release this book in Arabic and Persian languages to reach middle east.


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