Essay on Microcredit: A Way to Self-Reliance

Essay on Microcredit: A Way to Self-Reliance

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Microcredit has inspired countless imaginations on the possibilities of drastically reducing global poverty. This paper will attempt to deconstruct the norm, to displace popular discourse only pertaining to a few examples of the theory and practice of microcredit. “The sign of a successfully implanted norm is its silence” (Carter 2007:152). It is no longer questioned or scrutinized. The notion of the ‘Global North’ and the ‘Global South’ is both normalized and problematic. It dictates the global agenda, and pools the resources of power in some parts of the world and not others. It is a binary, that stands on the idea of ‘right’ and ‘wrong’ ways of being, that has actual repercussions and normalizing discourses (overwhelming from the ‘Global North’) diffusing singular ideas of what is to be considered ‘prosperity,’ ‘poverty,’ and even ‘development.’ Rist advises that mainstream models of development help to create and solidify dichotomies such as ‘developed’ and ‘undeveloped’ (Rist 2002:237). Latour states, “there is no world out there, there is just here” (Latour 2000:30). Latour is referring to circulating reference, explained as knowledge embedded in other knowledge in an unending spiral formation (ibid). Latour would assert that the use of polar extremes/dichotomies is not sensible, that there is a need to meet in the middle, to pay heed to context which includes aspects such as different forms of knowledge and geography. I argue that microcredit attempts to disrupt the dominant visual representation of individuals in the ‘Global South.’ These relations are usually marked with unequal and forcibly passive economic relations, which include air, with the ‘Global North.’
Microcredit is the extension of very small loans (microloan...


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...ssays on the reality of science studies. Cambridge, Mass: Harvard University Press.
Rist, Gilbert. 2002. “Some Thoughts on What is to be Done.” Pp. 238-248 in The History of Development: from Western Origins to Global Faith. London, England: Zed Books.
Rostow, W.W. 1960. “The Five Stages of Growth.” Pp. 4-16 in The Stages of Economic Growth, a Non-Communist Manifesto. Cambridge, Mass: Cambridge University Press.
Seibel, Hans Dieter and Fabrizio Felloni. 2005. “Mainstreaming Banking with the Poor in the Philippines.” Internationales Asienform 36(3/4): 361-375.
Taylor, Marcus. 2011. “Freedom from Poverty is Not Free: rural development and the microfinance crisis in Andhra Pradesh, India.” Journal of Agrarian Change 11(4): 484-504.
United Nations Microfinance and Capital Development. 2014. “Who We Are.” “What We Do” Retrieved April 7, 2014 (http://www.uncdf.org

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