The Blue Sweater Book Summary - The Blue Sweater Book explained in key points

The Blue Sweater summary

Jacqueline Novogratz

Bridging the Gap Between Rich and Poor in an Interconnected World

4.6 (12 ratings)
12 mins

Brief summary

The Blue Sweater by Jacqueline Novogratz is a memoir that highlights her journey to fight poverty in developing countries. It shows how one person can change the world by empowering people to lift themselves out of poverty, creating sustainable solutions, and fostering social entrepreneurship.

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    The Blue Sweater
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    Local women play a vital role in eliminating poverty in developing countries.

    Anyone who has watched the news knows the devastations of poverty in the developing world. People in the West have tried to lift the developing world out of poverty with various approaches like government aid and charitable organizations, yet, time after time, they have failed. Why?

    Often, aid and charity is not directed to the right people – women. In the developing world, it is women who generally decide how a family should spend its money, which makes them the most responsible spenders in their communities. Giving them the aid is most likely to yield effective results.

    Novogratz came to this conclusion when she wanted to help the poor in Rwanda. She had helped found a micro-credit company called Duterimbere, which makes very small loans to poor people who wouldn’t qualify for traditional bank loans. Soon she found that many women in developing countries were taking out loans to expand their tiny enterprises, mostly involving selling vegetables like tomatoes and onions.

    Duterimbere turned out to be very successful, and its success was largely because it let local women, rather than so-called experts, decide where money should be spent. This method went against the prevailing aid industry logic that dictated that experts should direct aid, with locals getting little say.

    Although these micro loans effectively helped poor communities rise out of poverty, Duterimbere was faced with the problem that a lot of women were not paying them back.

    Novogratz found a solution in making borrowers more accountable.

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    What is The Blue Sweater about?

    The Blue Sweater is an autobiographical look at the author’s travels in Africa and how they helped her understand the failures of traditional charity. These blinks also outline why a new type of philanthropic investing, called “patient capital,” developed by the author, may be part of the answer.

    The Blue Sweater Review

    The Blue Sweater (2009) is a captivating memoir by Jacqueline Novogratz, founder of the Acumen Fund. Here's why this book is worth reading:

    • With compelling storytelling and vivid examples, Novogratz takes readers on a journey of social and economic transformation.
    • The book offers a refreshing perspective on tackling poverty and global challenges with innovative and sustainable solutions.
    • Through her experiences, Novogratz showcases the power of individuals to make a difference, inspiring action and highlighting the incredible potential for positive change.

    Best quote from The Blue Sweater

    The psychology of poverty is so often the people who know the greatest suffering are the most resilient.

    —Jacqueline Novogratz
    example alt text

    Who should read The Blue Sweater?

    • Anyone interested in social entrepreneurship   
    • Anyone who wants to work in developing countries and is wondering what to expect
    • Anyone interested in helping developing countries rise out of poverty

    About the Author

    Jacqueline Novogratz is a former Wall Street banker who later went on to found and head Acumen Fund, a non-profit venture capital firm that invests in sustainable enterprises with the goal of lifting people out of poverty.

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    The Blue Sweater FAQs 

    What is the main message of The Blue Sweater?

    The main message of The Blue Sweater is the power of individual action in making a positive impact on the world.

    How long does it take to read The Blue Sweater?

    The reading time for The Blue Sweater varies, but it generally takes a few hours. The Blinkist summary can be read in just 15 minutes.

    Is The Blue Sweater a good book? Is it worth reading?

    The Blue Sweater is worth reading as it inspires and challenges readers to consider their role in addressing global issues with empathy and creativity.

    Who is the author of The Blue Sweater?

    The author of The Blue Sweater is Jacqueline Novogratz.