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Borrowers can't drink alcohol if they are applying for the micro-lending scheme run by Phra Subin Paneeto. |
Source background
According to
"Karmic borrowing: Micro-lending based on good deeds" (2016), a Thai monk and the Jordanian chief executive of a non-profit finance business that evolved from an NGO are helping the poor and socially disfavoured or rejected to get loans to start businesses that can bring them independence and the ability to support their families. In Jordan, Muna Sukhtian's micro-finance business lends almost entirely to poor women, who could never get a loan from a traditional finance company in that very traditionally male dominated society. Meanwhile, in Thailand, Phra Subin Paneeto initiated a micro-lending community credit union in 1992 that replaces the traditional collateral demanded by banks with Buddhist based community principles.
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Raeda Jaryan has expanded her business after receiving loans. |
My Yes/No question is:
Should governments lead in economic help to the poor?
My answer is:
No. It is dangerous to trust in governments to help.
My first question was: "Have you heard of this monk?" I had not, which sort of surprised me, not because I'm particularly well-informed on such Thai stories, but because in Quest 3, one of Hartmann's chapter's on economics includes a reading that discusses Muhammad Yunnus's Nobel Peace Prize-winning Grameen Bank, which is very similar. Perhaps a student has mentioned it and I forget.
I was very impressed by both the monk and the female CEO, who are successfully doing much better than either the Thai or the Jordanian government are doing to effectively help the members of their community who most need help because the traditional social values, attitudes and customs are failing to help. The
BBC article also reports that in Jordan, Ms Sukhtian has done much to smash the traditional cultural values that see women as inferior to men. Had the government been involved, they would very likely have been influenced by powerful elites to keep the old values and customs in tact, and women treated like objects of little value.
And in Thailand, the excellent Phra Subin Paneeto is helping people and at the same time setting the best example of what Buddhism can be. Again, were the Thai government involved, it's much to easy to imagine them focussing uselessly, often harmfully, on the whether people were following the proper custom respecting lumps of stone shaped like an imagined version of the Buddha, or obsessing about the sex lives of youth. By sensibly ignoring the Thai government as much as possible, this good monk has actually helped thousands of poor Thais on whom traditional Thai "good" people look down on, as was clear in the disgusting comments made by some of the PDRC mob leaders when they insulting dismissed the great majority of Thai citizens as not being intelligent or well educated enough to vote sensibly, despite the evidence being very much to the contrary.
The two best examples of what happens when a government is trusted to manage very much, or when a government simply takes all the power from the people, are the communist state of China under Mao and the fascist state of Myanmar under the army generals: both were economically disastrous for the nations under the control of those sorts of centralized, all-powerful governments.
Hartmann is a rather gentler in her readings, but I thought a little non-gentleness would go well following your excellent essays on elements of your culture that multinationals need to understand. As the examples of Ms Sukhtian and Phra Subin, it might be important to understand an element of a culture, but that does not mean we should agree with it, accept it, or pretend that it's right.
And in case your worried that I'm being ethnocentric, I could also have pointed out that the US also shows very well that government regulation tends to make things worse: Microsoft is not branch of the US government. Google is not happy to cooperate with the invasive US government and its legal authorities. And Harvard University is a private business.
Karmic borrowing: Micro-lending based on good deeds. (2016, May 27).
BBC News. Retrieved from
http://www.bbc.com/news/business-36343434