Tuesday, June 15, 2010

Yes, because the Third World will be saved by basket weaving....

A criticism of Muhammad Yunus and his insurgent popularity. Yunus is popular because what he advocates is capitalism, lots of capitalism, with the die hard American value that small business can save the world. Please. While this might make a concrete difference in some people's lives, at the end of the day the status of people in the Third World will be determined by the larger concentrations of wealth and power, economic and otherwise, that surround them. Unless Grameen started businesses can challenge that their effectiveness will probably be minimal on the national stage. It could be an interesting tool for development though if the people involved don't end up selling their wares to rich westerners but contribute to their own mainstream economy.

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