Capitalism, Microfinance and Democracy

Jump To References Section

Authors

  • Sakshi Kharbanda
     Jamia Millia Islamia, Academy of International Studies, Delhi ,IN

DOI:

https://doi.org/10.18311/sdmimd/2016/8415

Keywords:

Financial Inclusion, Democracy, Capitalism, Neoliberalism, Market, Government.
Corporate Governance

Abstract

The paper looks at the relationship between neoliberal thought of economics and microfinance. Applying the principles of embedded neoliberal economics to microfinance suggests that the government and markets do not exist in solidarity. They can both grow and sink together. Both are required to fulfill each other's requirements to sustain in a nation state. This paper suggests that market oriented economy, can be mediated through the government by bringing in changes to the institutions that can help markets grow and by also molding the nature of relationship it shares with the society. On the other hand, Markets have to incorporate the cultural, social and local knowledge to use it to their advantage. Economic sphere cannot work on its own regulations and by itself completely. The aim of neoliberal proponents shall not be to create same homogeneous conditions wherever they go to operate. Rather diversity should be studied closely to devise the best methods to deal with different contexts and societies. The paper first analyses the relationship between different types of capitals (Physical and Social) with Microfinance and development and then knits them together with the thread of democracy.

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

Downloads

Published

2016-03-01

How to Cite

Kharbanda, S. (2016). Capitalism, Microfinance and Democracy. SDMIMD Journal of Management, 7(1), 57–62. https://doi.org/10.18311/sdmimd/2016/8415

Issue

Volume 7, Issue 1, March 2016

Section

Research Papers
Crossref
Scopus
Google Scholar
Europe PMC

 

References

University of New South Wales, Australia: University of Sydney.

Fernando, L. J. (2005). Perils and Prospects of Micro-Credit: Neoliberism and Cultural Politics of Empowerment. Routledge Studies in Development Economics, London: Routledge.

Friedman, M. (1982).Capitalism and Freedom, Chicago: University of Chicago Press.

Cahill, D., & Edwards, L. (2012). Neoliberalism Beyond the Free Market, Australia

Hayek, F. A.V. (1960b). why I am Not a Conservative, Postscript in The Constitution of Liberty,The University of Chicago Press.Retrieved from http://www.geocities.com/ecocorner/intelarea/fah. 1.html

Lawrence, L.Y. (1988). Building Social From the Center: A Village Level Investigation Of The Grameen Bank, Programme for Research on Poverty Alleviation, Working Paper #22, Grameen Trust Dhaka Bangladesh.

Miller, P. & Rose, N. N. (1990). Governing Economic Life, Economy and Society, 19(1), 1–27.

Morduch, J. (2000). The Microfinance Schism, World Development, 28(4), 612–625.

Putnam, R. (1993).Making Democracy work: Civic Traditions in Modern Italy, Princeton, NJ: Princeton University Press.