Quote Originally Posted by Khendraja'aro View Post
I just read an interesting article in the Spiegel about the development of microcredits in India. The "inventor" of the microcredits intended it as a tool for development of poor areas after he had seen how small amounts of money could enable people to create a job. Which means, it's a risky business of lending, primarily intended as a social tool, still managing to yield a small profit, though.

Enter capitalism and it all goes pear shaped due to the banks promising massive profits to their investors and them not actually caring if the borrowers actually invest it into creating a job.

Anyone care to tell me how capitalism made the world a better place in this instance?
Do you mean the Grameen micro lending? Minx and I talked about that a long time ago.

It worked because the women had fused as a community long before the bank entered the picture. It works because the bank is helping their society move forward by small moves, not huge leaps.