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The Political Economy of Microfinance. Financializing Poverty
Authored Book (Verfasser eines eigenstšndigen Buches)
ID 3173884
Author(s) Mader, Philip
Author(s) at UniBasel Mader, Philip
Year 2015
Title The Political Economy of Microfinance. Financializing Poverty
Publisher Palgrave Macmillan
Place of Publication Basingstoke
ISSN/ISBN 978-1-137-36420-3
Series title Studies in the political economy of public policy
Abstract This book helps to understand the enigmatic microfinance sector by tracing its evolution and asking how it works as a financial system. Our present capitalism is a financialized capitalism, and microfinance is its response to poverty. Microfinance has broad-ranging effects, reaching hundreds of millions of people and generating substantial revenues. Although systemic flaws have become obvious, most strikingly with the 2010 Indian crisis that was marked by overindebtedness, suicides and violence, the industry's expansion continues unabated. As Philip Mader argues, microfinance heralds less the end of poverty than new, more financialized forms of poverty. While microfinance promises to empower, it generates discipline and extracts substantial resources from the poor, producing new crises and new forms of dispossession.
Digital Object Identifier DOI 10.1057/9781137364210
Full Text on edoc No

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