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http://ssrn.com/abstract=319735
 
 

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Microcredit: Fulfilling or Belying the Universalist Morality of Globalizing Markets?


Kenneth Anderson


American University - Washington College of Law; Stanford University - The Hoover Institution on War, Revolution and Peace; Brookings Institution - Governance Studies



Abstract:     
Microcredit is a widely practiced, widely revered technique of international development. It aims to increase incomes of the poor by giving them access to capital which can be used to create small businesses or other productive economic activity. Microcredit, despite its partly "market" approach to the capital needs of the poor, has a deeply ambivalent relationship with global capital and globalizing markets. It is an open question whether microcredit is an activity aimed at extending global markets by drawing the world's poor into them, or whether instead it seeks to be a mechanism creating "faux" markets which compensate the poor for their exclusion from world markets. Microcredit is both an extension of, and remedy for, the logic of global markets.

Number of Pages in PDF File: 38

Keywords: Microcredit, globalization, global markets, microfinance, global capital, nonprofit, nongovernmental organizations, international development, poverty, world people, women and poverty, NGO

JEL Classification: I3, L3, N8, O1, O2, P1, Z1

working papers series





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Date posted: June 18, 2002  

Suggested Citation

Anderson, Kenneth, Microcredit: Fulfilling or Belying the Universalist Morality of Globalizing Markets?. Available at SSRN: http://ssrn.com/abstract=319735 or http://dx.doi.org/10.2139/ssrn.319735

Contact Information

Kenneth Anderson (Contact Author)
American University - Washington College of Law ( email )
4801 Massachusetts Avenue N.W.
Washington, DC 20016
United States
Stanford University - The Hoover Institution on War, Revolution and Peace
Stanford, CA 94305-6010
United States
Brookings Institution - Governance Studies
1775 Massachusetts Ave, NW
Washington, DC 20036
United States
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