Re: [Pen-l] microcredit in the global economy

[Robert Scott Gassler <rsgassle@xxxxxxxxx>]

Our students have done several papers on the subject. The Grameen 
Bank lends to groups of women, who are collectively responsible for 
all repayments of loans. They do not of course report tear-apart 
rates, but they do attribute their phenomenal repayment rates to it.

There are a number of critiques of microfinance, but none like this 
one. Interesting.

At 00:33 24/10/2008, you wrote:
> Patrick Bond writes:
> > "Turning peasant women into mini-capitalists is just furthering 
> the reach of
> > finance capital and shifting the burden of risk to a class who already bear
> > the brunt of poverty without safety nets. ...
>
> A former member of my department presented a paper about
> micro-lending. At least for the loans he was talking about, the
> community was given a major role in making sure that the loans were
> paid back. That seems guaranteed to tear communities apart.
> --
> Jim Devine / "Nobody told me there'd be days like these / Strange days
> indeed -- most peculiar, mama." -- JL.
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