Do the Poor Need Capitalism?

[Michie]

A 2009 paper from the National Bureau of Economic Research says that the number of people in the world living on less than $1 per day fell from 403 million in 1970 to 152 million in 2006.

An analysis from the American Enterprise Institute says the biggest factor was the rise of the middle class in China and India, at a time when the world’s population grew by 3 billion. Is capitalism a greater asset than liability in the fight against poverty? Must capitalism be moderated by virtue and morality before a Christian can embrace it?

In this lecture, Rudy Carrasco points out the causes of poverty and how they should be adressed by Christians. Carrasco has served nearly two decades in urban ministries that expect great things of at-risk and gang-impacted young people. He is an associate director at Partners Worldwide, a lecturer for the Acton Institute for Religion and Liberty, a member of the Hispanic Scholarship Fund’s Alumni Hall of Fame, and serves on the board of directors of World Vision U.S.

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Do the Poor Need Capitalism?

 

[Fantine]

Certainly it is good to give microloans to very small businesses in the third world. Secretary of State Clinton has strongly supported that concept since she was first lady.

There is a website called kiva.org that allows individuals to join with others in making microloans to businesses.

We are a non-profit organization with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world. Learn more about how it works.

One of the big problems during the Bush years was that funding for the SBA was slashed. "Successful entrepreneurs shouldn't need help getting loans," Republicans said...

Instead, they slashed taxes for big businesses that didn't really need the help.

And so yes, I think we need a hybrid, common-sense capitalism to bring to the third world.