Thank you for taking this up with sources I would not wish to ignore. I see Patrick Bond argues in his conclusions
"The criticisms of microcredit drawn from diverse sources are not meant to discount the importance of financial markets in capitalist development, or to deny the prospect that some schemes are worthy and effective. The criticisms do, however, offer warning to economic development specialists and health and social policy advocates against believing the hype associated with microcredit as an overarching strategy to end poverty, change power relations, improve vulnerable populations’ health education, or stand in for decent social policy." I will read further. If Obama does get drawn into some sort of global New Dealism these political risks I agree are considerable. Much of the shorter term battle during the recession/depression will be about who bears the burden. There will be many many parts of the world where some sort of communitarian regeneration may look politically attractive as part of a well-choreographed international conference, apparently backed by an impressively large- sounding credit line. In the human interest article about Ann Dunham in Time, Obama sounds aware of some naivety in his mother's wide ranging anthropological interests. But he will also be sucked into the role of being some strange sort of messianic embodiment of world reconciliation, even if he knows he was not born in a manger. People will be crawling over him. I agree it looks like a potentially significant terrain of struggle. Chris Burford London ----- Original Message ----- From: "Sean Andrews" <[EMAIL PROTECTED]> To: "Progressive Economics" <[email protected]> Sent: Thursday, October 23, 2008 10:57 PM Subject: Re: [Pen-l] microcredit in the global economy | On Thu, Oct 23, 2008 at 4:34 PM, Chris Burford <[EMAIL PROTECTED]> wrote: | | > Barack Obama's job at the moment is to get elected and he may not be more | > radical than that. | > | > But I was struck by this passage in the biography of his mother on the Time | > website, Ann Dunham. | > | > I wonder how much he knows about it. If/when he gets drawn into a series of | > meetings about restructuring the global economy, I wonder if people will | > try | > to lobby him to get this sort of thing included on the agenda. | > There will be lots of parts of the world that will need reconstruction, and | > it will be better from the bottom up. | > | | Or not... | | http://www.leftbusinessobserver.com/Micro.html | | >From Doug Henwood's Left Business Observer: | | "Turning peasant women into mini-capitalists is just furthering the reach of | finance capital and shifting the burden of risk to a class who already bear | the brunt of poverty without safety nets. And playing cheerleader to | dead-end consumerism and self-exploitation strengthens the arguments of the | slash-and-burn policy crowd as they cut public programs and replace them | with the rhetoric of credit-fueled self-empowerment. | | Since some individuals have been helped by microloans, their individual | cases form a powerful body of rhetoric that plays into the myth of America | itself - work hard and make it. Now the microlenders promise the destitute | they can "borrow our money and be your own boss." Sounds like a late-night | TV pitch for instant wealth through no-money-down real estate - and just | about as believable." | | And from Patrick Bond on "the scamming of poor people through | microfinance" <http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf> | | http://www.nu.ac.za/ccs/files/<http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf><http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf> | Bond<http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf> | %20IJHS%20microcredit%<http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf> | 20critique.pdf<http://www.nu.ac.za/ccs/files/Bond%20IJHS%20microcredit%20critique.pdf> | | | s | -------------------------------------------------------------------------------- _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
