Microfinance extended debt to the poorest as a moralizing free-market project

Evidence

Likewise, in the last decade world political and economic leaders have been seduced by the lure of micro-finance schemes where small loans are extended to the world’s poorest populations (notably to women) in order to share with them the magic of free-market capitalism and the uplifting responsibility of debt (Bateman 2010; Roy 2012; Young 2010). — Max Haiven, Cultures of Financialization, 73

Categorization

• XREF: The ‘uplifting responsibility of debt’ framing parallels the immodesty moral-panics essay’s theme of moralizing rhetoric serving class/identity politics. — connects to: A profitable poverty industry profits from the poor via pay-day and pawn services — Max Haiven, Cultures of Financialization, 72; Finance is promoted to the poor as a moral rather than merely economic good — Max Haiven, Cultures of Financialization, 161; Debt and finance work biopolitically to produce compliant self-financing subjectivities — Max Haiven, Cultures of Financialization, 90 (+1 more)
• ADDENDUM: Microfinance as moralized debt discipline connects to the sacrifice essay’s account of ritualized giving used to stabilize stratified society.

Broader Connections

• Finance is promoted to the poor as a moral rather than merely economic good #corroborates (0.90) — Max Haiven, Cultures of Financialization, 161
• Financial self-interest is framed as advancing the common good through free-market logic #corroborates (0.85)
• Debt and finance work biopolitically to produce compliant self-financing subjectivities #expands (0.80) — Max Haiven, Cultures of Financialization, 90