Monday, September 24, 2007


Microcredit is an amazing idea. And with the advent of decentralized financial transactions provided by the web, it has really begun to come into its own as an efficacious method of socioeconomic change. Kiva is leading the way in realizing this idea's potential. It's amazingly simple. It works like this.

Even those of us who have very little money can make a substantial contribution. After all, you're almost certainly going to get your money back, so it's really just an issue of living without part of your paycheck for a bit. I am stunned at the power of such a simple idea.

Update: A fantastic example of the way people in undeveloped countries are really lacking only for seed capital, rather than intelligence, ingenuity, or desire, is here. There are several other case studies in the enabling of the destitute and their amazing capacity for technological achievement (which sounds -- and is -- naively chauvinistic to say in light of these examples) in this book.