The Economics of Injustice
‘The poor stay poor not because they are lazy, but because they have no access to capital.’ Milton Friedman, 1976 Nobel Prize in Economic Sciences.
40% of the world’s population has no access to the banking system that Western society takes for granted and could not function without. Imagine your life with no one and nowhere to borrow money from. No cheques or credit cards, bank loans or deposit accounts, mortgages or savings. How would you start a business if you could not get credit? How could you create jobs? If there were no jobs how would provide for your family? The lack of credit would constrain the development of every aspect of your life. No matter how hard you worked, you and those you love would be forced to live hand to mouth generation after generation. This is the plight of almost half the world’s population.