Credit is a Vector

[bcholmes]

This is an interesting video interview involving Vandana Shiva and Amy Goodman about microcredit.

Comments

[kat-chan.livejournal.com]

Something that I've been thinking about a lot lately is the similarity between "microcredit" and "subprime mortgages". Both practices are defended on the basis that they make "credit" (aka, debt) available to those who would not be able to get it otherwise. It's dressed up as a being a wonderful thing for the impoverished because it "opens opportunities" to them. I'm not convinced that it's not a way to further enslave the impoverished in cycles of debt and dependence, myself.