> The reason(s) for the decline of microfinance in various parts of India has > more to do with sociological naivety, arrogance and greed than with anything > you seem to be pointing to in your note below, Keith. > > The transformation of fairly simple (and very long standing) notions of > mutual support and collective norm enforcement into the central theme for > "status goods" driven hi tech zillionaire philanthropists (entrepreneurs in > their arrogance funding what they assumed would be entrepreneurial (and not > socially driven) enterprises in rural India and elsewhere) and then having > even this swept up into profit driven (usurial lending) IPO's is what has > caused the local problems.
In brief: Predators mess up everything. Keith wrote: > Steady-state systems, never mind hoped-for economic growth, never work > unless energy, money, ideas, what-have-you, come in from the outside -- and > constantly, too. This is a basic thermodynamic law (which most economists > and politicians are totally unaware of). Life on earth (truly the 'master > economy') only exists because the sun is pouring energy on it every day. And as the example of microfinance in India shows, large predators act as "dark holes", to remain in that analogy. Chris _______________________________________________ Futurework mailing list [email protected] https://lists.uwaterloo.ca/mailman/listinfo/futurework
