[p2p-research] anti-microfinance movement in nicaragua protests usury
rlanham1963 at gmail.com
Thu Nov 19 20:17:31 CET 2009
On Thu, Nov 19, 2009 at 2:06 PM, Kevin Carson <
free.market.anticapitalist at gmail.com> wrote:
> Part of the problem, though, is that there's an "international
> microfinance industry" in the first place, instead of networked credit
> being used as a way for local producers to aggregate their own
The capital comes from outside. All the administration in all situations of
which I am aware of...is always local. In fact, it doesn't work if it isn't
local. The peer pressure of local lenders (almost always small NGOs) is what
helps keep payments flowing.
I have tried to find something wrong with the schemes...tried to be open to
criticisms from Yale, etc. I can say in my own rather careful review that
these organizations do great things with and for people...I know of no
organization making money off of micro-credit. If the capital could be
found locally, that would be best...for now, not likely.
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