[p2p-research] Non-failure of microcredit

Michel Bauwens michelsub2004 at gmail.com
Fri Aug 28 04:30:08 CEST 2009

Hi christopher,

thanks for sharing this,

I made a similar remark, about bigger banks abusing the microfinance model,

but what we're discussing here is not banking propaganda, but a scientific
study, so that has to be discussed on its own merit, and that we're
discussing it is the opposite of accepting propaganda,


On Fri, Aug 28, 2009 at 3:09 AM, christopher macrae <
chris.macrae at yahoo.co.uk> wrote:

>   It is a dagger to my heart to see this open knowledge community start a
> thread called failure of microcredit. I leave you to judge whether it is a
> dagger to what you stand for too.
> Microcredit as innovated in 1970s Bangladesh is a system which like any
> system has core rules which if you break them compounds opposite
> consequences
> Microcredit's system design has NOT failed; what has happened is big banks
> and others have spun imitations whose rules were tampered with to spin
> opposite results. Its pretty amazing we are having this conversation when
> the reality is the failure of 99% of banking that isnt microcredit - at
> least I thought that was lesson of wall street last year
> Microcredit uses money's exchanges to create a lifetime community club
> owned by the poorest- they define what they want the surplus of the bank to
> be invested in next to end poverty- in bangladesh their choices that were
> researched "16 decisions" before grameen was founded  by bangladesh law as a
> bank owned by poorest .
> Two 2 minute lessons 25 from 10000 free dvds on microcredit
> http://yunus10000.com
>   5
>  Poor women primarily demanded invest in our children's health, education
> and the ecologies of our communities.
> In Grameen microcredit: every 60 rural women are allocated their own
> village CENTRE in which they peer to peer mentor each other both in income
> generation and in solidarity. The broken system that had trapped them had
> treated them as an underclass. Before anyone joins grameen they are inducted
> in 5 days of training based on Paulo Freire and others which also teaches
> those who are illiterate to write their own signature for the first time in
> their lives. That's a symbolic beginning to the spiral of self-respect -and
> communal trust - that any real microcredit system aims to nurture.
> Over a generation this has had very fortunate consequences. Grameen
> invested the poor's money in connecting the village centres through shared
> mobile phones (a microcredit franchise for microentrepreneurila
> village women) at a time (1996) when a world bank report had said that only
> quarter of a million people would ever use mobiles in Bangladesh. So it got
> the franchise at pennies in the dollar. It connected 140,000 village center
> hubs that had previously had little opportunity to share their end poverty
> knowhow. Bangladesh now has 40 million mobile users and is to mobile
> infrastructure design and partnerships worldwide
> http://www.grameensolutions.com http://bankabillion.org  what india is to
> the internet. Grameen is today as much about digital networking solutions
> for the poor as it is about banking or any other life-shaping service in the
> village. Yunus's acceptance speech surprised the Nobel audience by saying he
> wanted to be asked to help open source micro every system design solution -
> in health, energy, media, education ... not just banking.
>  If you actually visit Bangaldesh you see the only nation in the world
> whose vibrancy is designed round microeconomics not macroeconomics.  They
> call the missing system design which they have been integrating micro up for
> a third of a century social business
> http://news.bbc.co.uk/2/hi/science/nature/8130130.stm<http://news.bbc..co.uk/2/hi/science/nature/8130130.stm>
>  http://www.yunuscentre.org
> clinton youtube on this http://www.youtube.com/watch?v=jB1tSDXbOzg
> To be taken in by big banks who sponsored propagation of the lie of
> microcredit failing is sad. I would like to know how peer to peer knowledge
> systems in general guard themselves from not being tampered with by
> lobbyists with huge funds sponsored by those who are compounding an
> unsustainable globalisation. Some of p2p biggest supporters were involved in
> faciliating dr yunus 69th birthday dialogues tow months - you can learn from
> them not a non-expert in p2p like me. Bangkok a centre of p2p has recently
> become an epicentre of true microcredit http://news.inbangkok.org/?p=587
> For those who want to learn how empowering true microcredit systems are
> come to kenya april 2010 http://www.microcreditsummit.org The founders of
> this summit started gaining president elect bill clinton's support for this
> back in 1992. In 1997 the summit was launched with the most inspiring
> network goal I have ever heard of - in less than a decade reach 100 million
> poorest familes with solutions that empower them to end poverty. Those who
> founded this network commit that kenya's microcreditsummit will be even
> better than that inaugural yes we can conference of 1997. Can you help them?
> John Hatch on Microcreditsummit:
> Behold the largest self-help undertaking in human history—bringing hope,
> dignity, and empowerment to tens of millions of the world’s poor and poorest
> families. Behold a movement with global outreach, that has penetrated beyond
> city slums and market towns to even the most isolated villages. Behold an
> industry that embraces thousands of NGOs, credit unions, public and private
> banks, and an infrastructure of hundreds of thousands of community-based
> peer lending groups that are enabling many of the planet’s most
> disadvantaged households to generate the additional income and savings they
> need to keep their children alive, nourished, healthy, and able to attend
> school..
> Yes we can was the campaign slogan of the first MCS in 1997, and yes
> Obama's mother was a pioneer of microcredit in Indonesia. We live in a
> world  http://erworld.tv that will globalise only one of 2 systems with
> consequences that my dad who spent a life tme editing entreprenurial
> articles from a microeconomic lens computed in 1984 to spin 10 times more or
> less health and wealth by 2024 and in all likelihood sustanianbility's
> irreversibility. If you are on the side of integrating every community's
> productyivity equitably into global come to kenya; otherwise please go
> anywhere else that peers of wall street go.
> EF Schumacher put the need to connect end poverty solutions with the
> bottom-up as simply as anyone:
> The heart of the matter as I see it, is the stark fact that world poverty
> is primarily a problem of 2 million villages , and thus a problem of 2
> thousand million villagers. This solution cannot be found in the cities.
> Unless the hinterland can be made tolerable, the problem of world poverty is
> intolerable, and inevitably will get worse.
> chris macrae
> http://grameen.tv http://brac.tv usa 301 881 1655
> start: 0000-00-00 end: 0000-00-00
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