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India’s booming microlending industry is part of a global phenomenon that began as a charitable movement but now attracts private capital seeking growth and hig

• stretchwithme 16y ago
  And how is capitalism turning it to shit exactly? Many capitalist systems have this thing called bankruptcy which can be used to escape debts you cannot pay. This particular shit incident was caused by culture and beliefs, if not mental illness, and a lack legal innovations like bankruptcy, not because people started lending money for profit, which is an ancient practice that predates capitalism and microlending.
• tomjen3 16y ago
  Microfinance is capitalism. Without it, none of the good you speak of would be available to anybody.
• mindcrime 16y ago
  Good old capitalism, always there to turn nice things into shit. And what about all the "nice things" we probably wouldn't have without capitalism? How many drugs and labor-saving devices are in widespread use today because somebody saw a chance to make a profit by producing them?
• forensic 16y ago
  >Good old capitalism, always there to turn nice things into shit. The best thing about this meme is that it WILL turn everything nice into shit if people believe it. Capitalism and free enterprise produced everything good. The issue with suicides is not related to capitalism, it's related to cultural norms and lack of bankruptcy laws. Your communist spin on this turns my stomach. If you really care about the poor you will recognize that free enterprise is their only true hope for attaining a better life. Lenin is not going to do it. Charity is not the solution. The solution is productive free market wealth producing labor.
  • z0r 16y ago
    Yes, the desire to exploit and the drive to work tirelessly to maximize what you might get from being exploited is the source of all good things.
    • forensic 16y ago
      Your verbal virtuosity is vacuous. And I maintain that you don't actually care about the poor. I don't know wtf you're talking about but I do know one thing has been consistently shown to be true: Free enterprise lifts poor people out of poverty.
      • z0r 16y ago
        Your argument just seems dogmatic to me. I suppose my comment was not constructive. It is interesting that you have inferred that I don't care about the poor from my post.
      • coefficient 16y ago
        nah not really bro. market liberalism consistently lifts rich people further into richness and pounds poor people further into poorness cf. india both in the 19th century (hooray for capitalist genocides) and today, the caribbean (especially jamaica) after trade liberalization was forced by the imf, africa for pretty much all time, the vast majority of the population of china, latin america for its entire history, etc given your previous post about bankruptcy laws you probably have a more or less moral capitalist system in mind like sweden or canada as opposed to a post-industrial cyberpunk hellhole but you've got to remember that even in those countries capitalism creates more losers than winners and the vast majority of those countries' wealth has been extracted from the third world, the shittiness of life in which i don't need to talk about in detail. just as an example the capital which propelled britain's industrial revolution was accumulated through the plunder of north america and heavy involvement in the transatlantic slave trade. the same with the dutch, and holland is the birthplace of capitalism after all. the purpose of capitalism is to defend the private property (particularly ownership in production, for example dudes who hold stocks) of those who hold it against those who do not, and to allow people who have capital to get more of it through investment etc. you can say that people who invest capital deserve ownership because they risk their capital but you have to ask where the necessity of capital comes from in the first place - it's something of a circular argument.
• geekinthecorner 16y ago
  Life is impermanent, in the end we all become fertilizer.