Blog Posts By: Alex Counts

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09/10/2014


(L-R): Arcelia Gomez and Alex Counts of Grameen Foundation meet with Fred DeLuca, co-founder and president of Subway Restaurants, at the 2014 Subway Convention.

What do Grameen Foundation and the Subway® restaurant chain have in common? More than you might think. 

Fred DeLuca, co-founder and president of Subway Restaurants, has long been a supporter of microcredit and is also a living example of its success. Fred (as he insisted I call him from our first meeting when I was barely 30 years old) opened his first sandwich shop (then called Pete’s Super Submarines) at just 17 years old with a $1,000 loan from friend and co-founder Peter Buck in 1965. He soon aimed to have 32 stores in operation by 1975. Then and now, he was a humble, hard-working, plain-spoken man – much like Professor Yunus, my mentor from the age of 20.   

08/07/2014

My bottom-line framing of this entire issue is related to a basic question: why we do this kind of social science research at all?  In my mind, we do it for one reason: in combating societal problems such as poverty, we want to do more of what works well, and less of what doesn’t work, or works less well.  Period.  If research contributes to that, I will call it successful and effective.  If not does not, I will call it a failure – no matter how elegant the research design or how smart the investigators.  This is my take on the design principle of “relevance” which we have been discussing today.

07/30/2014

As a result of a complex combination of unwarranted attacks and self-inflicted wounds, the microfinance sector in India experienced a crisis starting in late 2010 after many years of strong growth and recognition for its contribution to poverty alleviation and financial inclusion.  When I was asked to give a keynote address at a microfinance conference in India in 2012, I said that it was important to leverage the sector’s strengths and accomplishments, while also addressing its failures and shortcomings.

07/03/2014

I have been involved in poverty reduction through holistic microfinance in Haiti for more than nine years, mainly representing Grameen Foundation on the boards of various entities within the Fonkoze family of organizations.

06/10/2014

A little over a year ago, Susan Davis, and former Chairwoman of Grameen Foundation said to me, “In the wake of 9/11, there was a lot of talk about developing partnerships with progressive groups in the Middle East, but few actually took the risk and did anything. Grameen Foundation took a big risk and did jump in.

05/20/2014

During our recent workshop on designing products for adoption and scale in Mumbai, I heard many memorable ideas, concepts, examples and analogies. One that has stuck in my mind is Ujjivan’s Samit Ghosh likening the shift we are trying to make to moving from catching rabbits to catching elephants.

05/13/2014

I have watched many people set out to start something completely new as a way to increase social impact. I have even started a few such ventures – such as Grameen Foundation – myself. It takes a lot to launch a successful start-up, including courage and, dare I say, cojones. There is significant risk involved, and with the upside of transformation comes the often looming downside of humiliating failure. 

04/25/2014

The movement to end poverty lost a great friend and champion earlier this month when Margaret Crow passed away in Dallas, Texas. Mrs. Crow was a generous donor, warm host and fearless traveler when it came to poverty reduction through microfinance, especially in Latin America, and most memorably in Chiapas, Mexico. She believed deeply in Grameen Foundation’s work to advance the elimination of poverty, and actively supported Chiapas International, our long-time partner in the Dallas area, during the last decade of her life.

I met Mrs. Crow through her daughter, our former board member Lucy Billingsley. Mrs. Crow took part in a memorable trip to Chiapas in 2003, leading a delegation of 30 female business leaders, professionals and philanthropists to spend a long weekend with the leaders, staff and loan clients of AlSol, a Grameen Foundation partner based in the charming colonial town of San Cristobal de las Casas.

01/15/2014

Just as increasing use of a “gender lens” has transformed thinking about and the practice of international development in recent decades, so too can behavioral economics in the near future.  In some cases, this discipline explains and reaffirms current practice.  In other cases, the study of behavioral economics provides an alternative explanation of why some things work and others don’t.  In still other cases, it suggests that current thinking and so-called “best practices” are wrong and counter-productive.  Now and then, it prompts us to consider readopting a practice that has fallen out of favor. 

Now, I will comment on the specific insights and implications I see for microfinance and international development when looked at through a behavioral economics lens.

01/13/2014

The field of behavioral economics – the intersection of psychology and economics – is fairly new.  This is a partial explanation of why its lessons have not yet been applied much to microfinance and anti-poverty programs generally.  But this is clearly changing, and none-too-soon, as microfinance in particular is in need of reinvention and rebranding. 

In fact, I am coming to believe that thoughtful applications of behavioral economics can be a central part of defining and realizing the idea of “responsible microfinance” that the Microfinance CEO Working Group and others are championing and also “full financial inclusion” that moves the dial on poverty. 

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