Under the famed rule of Margaret Thatcher in the 1980s, the concept of society was disregarded as something that bred dependency and inhibited wealth creation, and this philosophy led to the privatization of several industries and an increasing emphasis on empowering self-help and financial independence among citizens.
As a recipient of the 2006 Nobel Peace Prize, Yunnus began offering microloans to impoverished people in Bangladesh in 1976, thereby empowering them to become economically self-sufficient and proving the microcredit model that has now been replicated around the world.