the very act of encouraging poor people to consume products that they don’t need may actually make them worse off. Instead of trying to get them to buy more stuff, argues Kulkarni, we should be striving to find ways to help them produce more, so we can buy from them.
From How the World Works – Salon.com
A must read article on the economics of poverty and development. A must read for those who haven’t read much about micro-loans and competing development models and just want a taste of the theory and what it looks like in the 3rd world.
