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Archive for June, 2011

A village finance leader draws a calendar of member cash demand, Cambodia.

The modern view of time is neatly summed up by Max Weber in the The Protestant Ethic and the Spirit of Capitalism. Weber quotes Benjamin Franklin, the sage of American capitalism, on the logic that built the American economy.

“Remember, time is money.”

“He that spends a groat a day idly, spends idly above six pounds a year, which is the price of the use of one hundred pounds.

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Time to take the fish to market.

Microfinance depends vitally on a modern cultural value that drives the global economy: the time-value of money. Microfinance practices work where this value is already well developed. The poorest parts of the world, almost by definition, are those where this value is not well understood.

Take Lawino for example: (more…)

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