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    The Financialisation of Poverty

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    Date
    2015
    Author
    Mader, Philip
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    Impact
    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 broadranging 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.
    URI
    https://opendocs.ids.ac.uk/opendocs/handle/20.500.12413/7118
    Citation
    Mader, P. (2015) ‘The financialisation of poverty’, in Mader, P. The political economy of microfinance: financializing poverty, Basingstoke: Palgrave Macmillan, pp. 78-120
    Is part of series
    Studies in the political economy of public policy;
    More details
    http://www.palgrave.com/page/detail/the-political-economy-of-microfinance- /?K=9781137364203
    Library catalogue entry
    http://bldscat.ids.ac.uk/cgi-bin/koha/opac-detail.pl?biblionumber=238206
    Rights holder
    Palgrave Macmillan
    Rights details
    http://www.ids.ac.uk/files/dmfile/IDSOpenDocsStandardTermsOfUse.pdf
    Collections
    • IDS Research [1645]

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