India’s booming microlending industry is part of a global phenomenon that began as a charitable movement but now attracts private capital seeking growth and high returns.
Good old capitalism, always there to turn nice things into shit.
Many capitalist systems have this thing called bankruptcy which can be used to escape debts you cannot pay.
This particular shit incident was caused by culture and beliefs, if not mental illness, and a lack legal innovations like bankruptcy, not because people started lending money for profit, which is an ancient practice that predates capitalism and microlending.
>Good old capitalism, always there to turn nice things into shit.
The best thing about this meme is that it WILL turn everything nice into shit if people believe it.
Capitalism and free enterprise produced everything good. The issue with suicides is not related to capitalism, it's related to cultural norms and lack of bankruptcy laws.
Your communist spin on this turns my stomach. If you really care about the poor you will recognize that free enterprise is their only true hope for attaining a better life. Lenin is not going to do it. Charity is not the solution. The solution is productive free market wealth producing labor.
While I agree with your general gist, "Capitalism and free enterprise produced everything good" is a bit of an exaggeration. Capitalism didn't "produce" labour rights, it didn't "produce" national parks, the sexual revolution or the abolition of slavery. I don't think we can simplistically say that captialism is the cause of all that is great in this world, even though it's a pretty major component.
Pretty much everything good came from free enterprise. The parts of society that engaged in free enterprise came up with the good stuff that would slowly spread free enterprise to the other parts of society.
Specifically:
Are labour rights really a thing? Were they created? "Labour rights" are a communication of certain realities, e.g., treat everyone nicely or we will poke your head with pitchforks.
National parks were not created either. They're an abstract political concept that simply communicates the wishes of a group and the consequences to those who contradict the wishes of a group.
The sexual revolution, another abstract thing, came directly from free enterprise because free enterprise produced the prosperity and technology that caused the changes. e.g. The Pill.
These above good concepts, which are all really just recognitions of the power of the masses, are tightly linked to the power of the masses. And the power of the masses comes from their productive interdependent free enterprise labour.
>Capitalism and free enterprise produced everything good.
>National parks were not created either.
National Parks consist of isolated bits of something good that was there long before man. They're definitely not something good produced by free enterprise, rather something good still there because it was protected FROM free enterprise.
And I maintain that you don't actually care about the poor. I don't know wtf you're talking about but I do know one thing has been consistently shown to be true:
nah not really bro. market liberalism consistently lifts rich people further into richness and pounds poor people further into poorness
cf. india both in the 19th century (hooray for capitalist genocides) and today, the caribbean (especially jamaica) after trade liberalization was forced by the imf, africa for pretty much all time, the vast majority of the population of china, latin america for its entire history, etc
given your previous post about bankruptcy laws you probably have a more or less moral capitalist system in mind like sweden or canada as opposed to a post-industrial cyberpunk hellhole but you've got to remember that even in those countries capitalism creates more losers than winners and the vast majority of those countries' wealth has been extracted from the third world, the shittiness of life in which i don't need to talk about in detail.
just as an example the capital which propelled britain's industrial revolution was accumulated through the plunder of north america and heavy involvement in the transatlantic slave trade. the same with the dutch, and holland is the birthplace of capitalism after all.
the purpose of capitalism is to defend the private property (particularly ownership in production, for example dudes who hold stocks) of those who hold it against those who do not, and to allow people who have capital to get more of it through investment etc. you can say that people who invest capital deserve ownership because they risk their capital but you have to ask where the necessity of capital comes from in the first place - it's something of a circular argument.
Your argument just seems dogmatic to me. I suppose my comment was not constructive. It is interesting that you have inferred that I don't care about the poor from my post.
Good old capitalism, always there to turn nice things into shit.
And what about all the "nice things" we probably wouldn't have without capitalism? How many drugs and labor-saving devices are in widespread use today because somebody saw a chance to make a profit by producing them?
Good old capitalism, always there to turn nice things into shit.