A Little Help Can Go A Long Way

Not much of my own comment in this particular post. I’ll let the news sources and websites inform you about this Wonderful concept. As always, though, there will be a spiritual quote at the end…

From OneWorld.Net: Microloans Pay Off for Planet, Investors
“Mohammed Yunus, an economics professor from Bangladesh, is considered the father of microfinance. In 1983, Yunus founded the Grameen Bank to make small loans to impoverished entrepreneurs. Grameen Bank now has over 7 million borrowers. Yunus and the Bank received the Nobel Peace Prize in 2006.”

From Wikipedia: Microcredit “Microcredit is the extension of very small loans (microloans) to the unemployed, to poor entrepreneurs and to others living in poverty who are not considered bankable….Microcredit is a part of microfinance, which is the provision of a wider range of financial services to the very poor.”

From Business Week: Micro Loans, Solid Returns “With about $200 of his own money and a $1,500 loan, Vahid Hujdur rented space in the old section of Sarajevo and started repairing, then reselling discarded industrial sewing machines. Eight years and several loans later, Hujdur now has 10 employees building, installing, and fixing industrial machinery.”

From the KIVA website: We Let You Loan to the Working Poor “Kiva is the world’s first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world. The people you see on Kiva’s site are real individuals in need of funding – not marketing material. When you browse entrepreneurs’ profiles on the site, choose someone to lend to, and then make a loan, you are helping a real person make great strides towards economic independence and improve life for themselves, their family, and their community. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates and track repayments. Then, when you get your loan money back, you can relend to someone else in need.”

“The increasing disparity between the rich and the poor is a major destabilizing influence in the world. It produces or exacerbates regional and national conflicts, environmental degradation, crime and violence, and the increasing use of illicit drugs. These consequences of extreme poverty affect all individuals and nations. Increasingly we are becoming aware that we are all members of a single human family. In a family the suffering of any member is felt by all, and until that suffering is alleviated, no member of the family can be fully happy or at ease. Few are able to look at starvation and extreme poverty without feeling a sense of failure….

“A new economic order can be founded only on an unshakable conviction of the oneness of mankind. Discussions aimed at solving problems related to extreme poverty based on the premise that we are one human family rapidly expand beyond the current vocabulary of economics. They demand a wider context, one which anticipates the emergence of a global system of relationships resting on the principles of equity and justice.”
Bahá’í International Community, 1993 Feb 12, Human Rights And Extreme Poverty

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Money and Value

Money doesn’t always equal value.

These news items are about the United States but what’s happening there is impacting the global economy . . .

From The New York Times: Worried Banks Sharply Reduce Business Loans “Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring.”

From the Economist: Inflation or deflation? “The markets have become incredibly volatile as investors vacillate between these outcomes.”

From the BBC: Record deficit for next president “The next US president is expected to face a record federal budget deficit of almost half a trillion dollars.”

Economics used to seem as opaque as metaphysics to me. Then, as I hit the middle of middle-age, it became apparent I was studying the economics that businesses use, that nations use, that politicians manipulate.

The economics that has squandered vast quantities of non-renewable resources.

The economics that keeps certain people away from creativity, away from a decent livelihood.

The economics that spawns wars and utterly brutal treatment of innocent civilians !

I don’t want to start ranting so here are some spiritual quotes to ponder:

“The repudiation of national right and power to make war represents the first step toward mutual wealth and sound economy. Short of a world economy mankind will not achieve the fruits of civilization.”
Bahá’í International Community, 1947 Feb, A Bahá’í Declaration of Human Obligations and Rights

“Widespread uncertainty about the condition of the economy indicates a deep disorder in the management of the material affairs of the planet, a condition which can only exacerbate the sense of frustration and futility affecting the political realm.”
The Universal House of Justice, A Wider Horizon, Selected Letters 1983-1992, p. 102

“…participants in the informal sector of the economy, women in particular, must be involved in reconceptualizing economics altogether, both theory and practice. If women have a unique approach to economic activity, it would most likely be apparent in the largely unstructured informal sector of the economy. For example, preliminary findings in an on-going study of women industrial sub-contractors in Malaysia, show that the business objectives of the majority of women sub-contractors are defined not so much in monetary terms as in terms of values.”
Bahá’í International Community, 1995 Aug 26, Women in the Informal Sector in Malaysia

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