[p2p-research] The failure of micro-credit?

[Michel Bauwens]

hi Sam,

I'm puzzled by your 'total' opposition to credit. Even most monetary
reformers/transformers recognize the difference between turnover credit, and
investment credit. They usually say the problem is that contemporary money
conflates them, and that a proper separation is better. In fact, people like
Thomas Greco advocate, convincingly that a mutual credit clearing system
would be much superior to the current money system.

I don't think the bangladeshi women would have access to any pools in the
first place ... However, they could issue their own currency/credit clearing
system for their own exchanges, bypassing the need for 'bank's and
debt-based money.

I've never seen microfinance as a panacea, but from the documentaries I have
seen, there is a huge boost in the dignity and collective identity of those
particpating, at least in the good schemes. Isn't the problem that
microfinance has become commercial, with outfits such as in mexico now
asking interest that is even higher than normal banks?

Michel

On Sun, Aug 23, 2009 at 11:32 PM, Samuel Rose <samuel.rose at gmail.com> wrote:

> Ryan wrote:
>
> >Date: Sun, 23 Aug 2009 11:11:47 -0500
> >From: Ryan Lanham <rlanham1963 at gmail.com>
> >Subject: [p2p-research] The failure of micro-credit?
> >To: Peer-To-Peer Research List <p2presearch at listcultures.org>
> >Message-ID:
>        <9134ad230908230911l2d535155n36ee5bef301a8934 at mail.gmail.com
> >>
> Content-Type: text/plain; charset="iso-8859-1"
>
> >Editorial note:  I am big advocate for micro-credit.  I am saddened by
> this
> >study, but cannot disprove its findings. One big P2P ideas seems
> inherently
> >flawed.
>
> >
> http://www.3quarksdaily.com/3quarksdaily/2009/08/does-microlending-really-help-the-poor.html
>
> >Ryan
>
> I have to agree with this. All the way back in 2005-2006 when
> BarCampBank http://www.barcampbank.org project first really took off,
> I was one of the only people advocating against debt-creating
> mechanisms (like micro lending).
>
> Resource pooling, coupled with targeted investment are the way to go,
> if money is to be involved. A pool of money could be created, which
> could then pay out when projects meet and sustain a criteria that is
> defined by the investing group. This is similar to C.A. Fitts "solari"
> model. The investing group could work this similar to "bounties". Or,
> could take a different approach with impoverished people and lower the
> barrier to encourage community cooperation towards co-creation of
> local basic needs infrastructure.
>
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