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Rastafari Speaks

Re: Grameen Bank and `microcredit' . . . .

no doubt - the idea of low interest loans to support small micro-enterprises is a good one on many levels - especially ones that encourage cooperation and mutual support amongst the recipients that then goes towards establishing some sort of control and ownership over some form of economic engine.

however - the most persistent problem is the elephant in the room - the fact that world's richest continent's struggling people must finance themselves on debt when the place they live has more indigenous equity in the form of resources than the first world nations of the earth. export market crafts for liberal first worlders is not really what i would call a sustainable economic plan. even worse - income generated via export market crafts for liberal first worlders financed on a debt based model whose administrators can then tighten the terms of repayment, increase interest rates and also cut off credit when their "market based" utopia project fails. without systematic change and without sovereign control(indigenous ownership of the means of production, land and resources) - microfinance turns out to be just another feel-good liberal cause which can get the stamp of approval from neo-liberal economists. this is likely why the idea maintains such high regard amongst some of the biggest offenders of indigenous sovereignty on earth - namely the world bank who enjoy putting "lipstick on a pig."

Messages In This Thread

Grameen Bank and `microcredit' . . . . *NM* *LINK*
Re: Grameen Bank and `microcredit' . . . .
Re: Grameen Bank and `microcredit' . . . .
Re: Grameen Bank and `microcredit' . . . .
"lipstick on a pig."
Re: Grameen Bank and `microcredit' . . . .
Re: Grameen Bank and `microcredit' . . . .
A Run on Grameen Bank's Integrity *NM* *LINK*


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