your views betray your strong anti-poor attitude.Microcredit gives money and self-respect whereas your big enterprises give only a salary.Big enterprises help the already rich upper castes mainly, whereas microcredit helps the vast majority of lower castes...
RE:microcredit
by Solomon JP on Jan 28, 2007 05:55 PM Permalink
Ofcourse you must not forget the very rich 'investing' and harvesting a good return from microfinance institutions. You havent been involved with micro-credit it seems... IT DOES'NT GIVE "SELF-RESPECT" as you claim, there are only anecdotal stories reeled out.. No one can build an enterprise in business infrstructure starved india, with such low levels of investments and at such high levels of intrest rates 24% and above. Try building a business with that kind of interest rates, may be the likes of CK Prahalad will spin another story, to say how by selling soap satchets to the poor can help eradicate poverty- or even better, how the poor can sell banannas to each other and by some magic get rich - YOU NEED REAL ENTERPRISES THAT WILL CREATE JOBS and enterprises that will create enterprise and wealth in poor regions- NOT WHEELING AND DEALING WITH MONEY ALONE. Sure a lot more can improve in terms of finacial services - and one can even build viable businesses of microcredit as we can see and even win national and international awards. But can you see the emperor has no clothes?
