31 May 2012

Microcredit


There has been of late a fascinating outbreak of discussion of microfinance at Marginal Revolution.

The first time I wrote of microcredit in this blog, in December 2010, I noted that Muhammad Yunus was generally considered its father, Grameen Bank was the DNA, and Bangladesh was the cradle.

I reported in that and a following entry on a controversy over a particular transfer of funds from Grameen Bank to Grameen Kalyan, a sister organization.

Half a year later I returned to the subject and referenced efforts to extend the basic model to the US.

A lot of newsy water has passed under the bridge since then. The significance of the discussion at Marginal Revolution, though, is that it takes our attention away from Yunis, away even from the 20th and 21st centuries, and asks us to think of microfinance/microcredit with a much longer life.  Jonathan Swift gently rocked its cradle in 18th century Ireland.
That discussion will in turn direct you to this book.
Happy reading.

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Knowledge is warranted belief -- it is the body of belief that we build up because, while living in this world, we've developed good reasons for believing it. What we know, then, is what works -- and it is, necessarily, what has worked for us, each of us individually, as a first approximation. For my other blog, on the struggles for control in the corporate suites, see www.proxypartisans.blogspot.com.