Posted in Microfinance, Orality, The village, tagged Benjamin Franklin, ethics, Max Weber, oral culture, seasonality, time value of money on June 17, 2011| Leave a Comment »
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.
Posted in Microfinance, The village, tagged farm, literacy, loan contract, numeracy, orality, seasonality, time value of money, trust, village finance on April 17, 2011| Leave a Comment »
Poor villagers in the developing world are a distinctive, underserved microfinance segment. There are nearly a billion rural people who make less than $1.25 a day, and most are illiterate or marginally literate, so microfinance documents are inaccessible to them.
There are three widely neglected factors that make rural microfinance fundamentally different from urban microfinance. (more…)
villagefinance 