Christmas Movies and Bad Econonomics
There are some Christmas movies that are pleasant tales; but if you think through the economics, well, humor ensues.
Christmas Movies and Bad Econonomics
posted by David Oakey @ 8:09 PM
Sunday, August 27, 2006
Christmas Movies and Bad Econonomics
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1 Comments:
Smokefoot wrote:
Bailey in "A Wonderful Life" giving out loans based on character is simular to the modern phenomena of microloans. Microloans started as a way for people with no credit a way to start businesses. The group of people who were previously given loans decide who gets new loans. They also give support to the new borrower in starting their business.
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David Oakey writes:
I like how microloans have helped poor women in countries which have strongly discriminated against women.
Wikipedians wrote:
http://en.wikipedia.org/wiki/Microloan
"Microcredit is a financial innovation which originated in developing countries where it has successfully enabled extremely impoverished people (mostly women) to engage in self-employment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty."
"Women have become the center focus of many microcredit institutions and agencies worldwide. The reasoning behind this is the observation that loans to women tend to more often benefit the whole family than loans to men do. It has also been observed that giving women the control and the responsibility of small loans raises their socio-economic status, which is seen as a positive change to many of the current relationships of gender and class."
I was surprised when I found that there is criticism of microloans, as shown in the wikipedia entry.
Wikipedians wrote:
"The microcredit movement does have critics, who say that some lending programs charge excessive interest rates. Also, there is concern that funding for microcredit programs will be diverted from other needed programs such as health, water projects and education. Credit programs may enable poor people to improve their situation, but they do not eliminate the need for other basic social and infrastructure services. Another group of critics believe that traditional schemes of credit for the poor, such as pawn shops and payday loans, are more effective, and claim that many microcredit schemes are simply disguised charity rather than an effective business model.
Some other problems that have been reported with microcredit:
Turning a profit on the loan
Inability to reach the poorest of the poor
Microcredit dependency
Durability of poverty reduction"
It was news to me.
David Oakey
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