Community-Owned and Controlled Finance

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* Chapter/article: From failed local neoliberalism to Community-Owned and Controlled Finance by Milford Bateman

For decades microcredit captured the zeitgeist of financial neoliberalism and its celebration of individualism, entrepreneurship and self-help. By the 2010s, however, it became clear that the microcredit model was no anti-poverty panacea, but a slow-moving disaster for the global poor. Meanwhile community-owned and controlled finance has successfully encouraged equitable development, as illustrated by four examples from Europe and Asia.

Source: Source: Book / Report: Public Finance for the Future We Want. Ed. by Lavinia Steinfort and Satoko Kishimoto. Transnational Institute, 2019