Request PDF on ResearchGate | On Jul 1, , Susanne Schech and others published Ananya Roy, Poverty Capital: Microfinance and the Making of. Poverty Capital: Microfinance and the Making of Development Ananya Roy. Rout – Ananya Roy was inspired to write the book by the large numbers of students. Ananya Roy’s recent book, Poverty Capital: Microfinance and the Making of Development, brilliantly captures a growing global consensus.

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For all of the talk of free, open, and global markets, markets are in fact idiosyncratic, uneven, and closed.

As the piles anajya research material mushroomed all around our house, he heard a familiar refrain: Second, microfinance is one of those rare development ideas that originated in the global South and was taken up by powerful development institutions in the global North. May 05, Kavya rated it really liked it.

Poverty Capital: Microfinance and the Making of Development by Ananya Roy

Bondholders in the global North benefit from the interest payout on such revenues World Bank In other words, this is a book about the politics of knowledge at a time of millennial development. That ca;ital, of financial inclusion, of the democratization of capital, of microentrepreneurship, of a better life, of the end of poverty, must be taken seriously. Kyle rated it really liked it Apr 14, I believe that such questions—concerned with the democratization of capital and the democratization of development—are important.

These truths are not confined to Bangladesh, for anajya rather strategic fashion, the Bangladeshi NGOs work to globalize their models, practices, and ideas.

I ask a different set of questions, those that I believe are fundamental. Or will it fuel financial speculation, predatory capitalism, and ever-expanding debt?

Such ideas are ubiquitous in the world of microfinance. Africa Works If millennial development involves a debate about whether markets work or fail, then it also involves an imagination about places that work or fail. And it is here that Christian microfinance, in surprising and perhaps unintended fashion, calls into question the premises of millennial development. In the midst of the financial crisis, inthe Wall Street Journal April 21, reported that Compartamos was posting a growth in net profits of nearly 25 percent.


The democratization of capital is thus about the economic freedom of the poor, about reconceptualizing the capita as financial consumers.

Poverty Capital: Microfinance and the Making of Development

Although the Washington consensus on poverty emphasizes themes of self-sufficiency and chides microfinance NGOs for their primitive dependence on donors, the sleek giants of Wall Street remain dependent on incubated government funds and the disciplinary hand of those primitive NGOs. It was an unusual gift, for it stipulated that the money had to be invested in microfinance and disbursed to micro- entrepreneurs around the world.

Two of the eight Millennium Development Goals are explicitly concerned with gender inequalities.

Thinking about the Middle East complicates the narrative of millennial development. On the other hand, I have students who are cynical, those who are able to level sharp critiques of structures of injustice but do not believe that change is possible.

Such dominant practices are challenged by alternative paradigms of development, and the book details these as well. Such issues also seem to have plagued the McNamara Bank.

They embody the truth that is the Benetton campaign slogan: No part of this book may be reprinted or reproduced or utilized in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

Creative Capitalism In his Nobel lecture, Yunus a noted that in order to resolve the problem of crushing poverty, the world has to rethink some of the basic assumptions of free-market ideologies.

De Soto argues that the reason is that the poor hold their assets in defective form, dead capital, and that the capture of such value is made more difficult by the red-tapeism of bureaucratic states.


The companies buy pills. The Covenant College training conference, with about attendees each year, is meant to provide rigorous training to Christian missionaries in this field. The study of power is also fraught with ethical issues, in this case the ethics of intimacy— of complicities roj entanglements that are part of the world of development institutions and part of the world of academia.

Juliana rated it it was amazing May 21, But his twofold criticism of the IMF circulated widely. This is also possibly the case because microfinance represents the confluence of various Wolfensohn agendas, notably small enterprise development and gender empowerment. Goodreads helps you keep track of books you want to read.

A decade of harsh structural adjustment policies had wrought havoc in many parts of the world such that by the s new policies had to be crafted in order to address growing poverty, unemployment, and indebtedness.

Poverty Capital: Microfinance and the Making of Development – Ananya Roy – Google Books

She cannot sleep at night. Take for example, the controversy about Compartamos, a microfinance institution in Mexico. They are being revived at a time of millennial development. Almost a century later, in On LibertyJohn Stuart Mill also argued for the freedom of the economy. Particularly striking is the idea, which ran through the issue: In Washington Eoy, Bangladesh, Egypt, and Lebanon, I also collected data and conducted archival research on key microfinance institutions.

The Bangladesh press and academic establishment have often fiercely exposed the power wielded by microfinance organizations in collecting loans.