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Microfinancing
In this second miniseries of Season 2, "Global Finance", we're wrestling with the strangeness of living in a world that aspires to a level of global integration our current systems can't support - and maybe don't want to. In this episode, I reflect on a time when I was beguiled by the feel-good story of microfinancing. Nothing is ever that simple, sadly, when it comes to the easily gamified world of global finance.
NB: There is an error in the script, corrected in the show notes and transcript. Andhra Pradesh is a key location in Poverty Capital, which was written by Ananya Roy.
REFERENCES
Bateman, Milford. "The Rise and Fall of Muhammad Yunus and the Microcredit Model", International Development Series Working Paper. 2014. https://www.researchgate.net/publication/272241825_The_Rise_and_Fall_of_Muhammad_Yunus_and_the_Microcredit_Model
Bernards, Nick. A Critical History of Poverty Finance: Colonial Roots and Neoliberal Failures. Pluto Press, 2022. https://www.plutobooks.com/9780745344829/a-critical-history-of-poverty-finance/
Donovan, Kevin P. "Microfinance's Imagined Utopia", Boston Review. 2023. https://www.bostonreview.net/articles/microfinances-imagined-utopia/
Donovan, Kevin P. and Emma Park. "Perpetual Debt in the Silicon Savannah", Boston Review. 2019. https://www.bostonreview.net/articles/perpetual-debt-silicon-savannah/
Meyerowitz, Joanne. A War on Global Poverty: The Lost Promise of Redistribution and the Rise of Microcredit, 2021
Nelson, Eshe. Nobel winner Muhammad Yunus wants two financial systems—one for the rich and one for the poor", Quartz. 2018. https://qz.com/1430076/nobel-winner-muhammad-yunus-wants-two-financial-systems-one-for-the-rich-and-one-for-the-poor
Roy, Ananya. Poverty Capital: Microfinance and the Making of Development. Routledge Press, 2010. https://www.routledge.com/Poverty-Capital-Microfinance-and-the-Making-of-Development/Roy/p/book/9780415876735
Yunus, Muhammad. A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions. PublicAffairs. 2017. https://www.hachettebookgroup.com/titles/muhammad-yunus/a-world-of-three-zeros/9781610397582/
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By M L ClarkIn this second miniseries of Season 2, "Global Finance", we're wrestling with the strangeness of living in a world that aspires to a level of global integration our current systems can't support - and maybe don't want to. In this episode, I reflect on a time when I was beguiled by the feel-good story of microfinancing. Nothing is ever that simple, sadly, when it comes to the easily gamified world of global finance.
NB: There is an error in the script, corrected in the show notes and transcript. Andhra Pradesh is a key location in Poverty Capital, which was written by Ananya Roy.
REFERENCES
Bateman, Milford. "The Rise and Fall of Muhammad Yunus and the Microcredit Model", International Development Series Working Paper. 2014. https://www.researchgate.net/publication/272241825_The_Rise_and_Fall_of_Muhammad_Yunus_and_the_Microcredit_Model
Bernards, Nick. A Critical History of Poverty Finance: Colonial Roots and Neoliberal Failures. Pluto Press, 2022. https://www.plutobooks.com/9780745344829/a-critical-history-of-poverty-finance/
Donovan, Kevin P. "Microfinance's Imagined Utopia", Boston Review. 2023. https://www.bostonreview.net/articles/microfinances-imagined-utopia/
Donovan, Kevin P. and Emma Park. "Perpetual Debt in the Silicon Savannah", Boston Review. 2019. https://www.bostonreview.net/articles/perpetual-debt-silicon-savannah/
Meyerowitz, Joanne. A War on Global Poverty: The Lost Promise of Redistribution and the Rise of Microcredit, 2021
Nelson, Eshe. Nobel winner Muhammad Yunus wants two financial systems—one for the rich and one for the poor", Quartz. 2018. https://qz.com/1430076/nobel-winner-muhammad-yunus-wants-two-financial-systems-one-for-the-rich-and-one-for-the-poor
Roy, Ananya. Poverty Capital: Microfinance and the Making of Development. Routledge Press, 2010. https://www.routledge.com/Poverty-Capital-Microfinance-and-the-Making-of-Development/Roy/p/book/9780415876735
Yunus, Muhammad. A World of Three Zeros: The New Economics of Zero Poverty, Zero Unemployment, and Zero Net Carbon Emissions. PublicAffairs. 2017. https://www.hachettebookgroup.com/titles/muhammad-yunus/a-world-of-three-zeros/9781610397582/