James B

London Uk, United Kingdom

About James

Bio

I write about personal finance, mostly matters that concern the poor, I write tips on improving credit score and getting loans or credit cards even with bad credit history.

An idea worth spreading

Micro-loans given directly to entrepreneurs in developing countries are a better solution than financial aid given to governments.

When money is given to a poor nation, it usually comes with attachments; the giving nation wants its companies to get contracts and bring in workers, the result is that local people don’t get important jobs, they don’t acquire the skills. Another issue is corruption and bad governance.

The case for micro-loans as demonstrated by Kiva is that rather than waste money to prop up dictators, give it to the people who will use it effectively.
Poor banking infrastructure makes getting credit a big challenge in poor nations, there are no credit ratings for example and so often people in villages don’t even have bank accounts.

With micro-loans the person in a developing nation will makes their case to the community and if ordinary people in developed nations are convinced, they contribute and make the loan, thereby cutting out the corrupt middleman.

Favorite talks

Comments & conversations

Noface
James B
Posted almost 3 years ago
Lisa Margonelli: The political chemistry of oil
its outragrous that the oil industry is subsidised, they make profits upwards of $8billion. I believe green energy can be viable but with these subsidies it will take longer, other countries are not waiting around.
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James B
Posted almost 3 years ago
Euvin Naidoo: Why invest in Africa
What would be great is if Africans are the drivers of this economic revolution, having growth that's driven by foreign investment makes the continent vulnarable to the global economic cycles.
Noface
James B
Posted almost 3 years ago
Brewster Kahle: A free digital library
great I dea of printing your own books, but is it scalable? I think it would be cheaper to distribute Kindle-like devices, these devices are cheap and kids in rural areas can have hundreds of books on a small device.
Noface
James B
Posted almost 3 years ago
Nandan Nilekani: Ideas for India's future
Nandan is certainly worth listening to as a cofounder of one of the biggest companies in India. Though I would disagree, India is not the only country with a young population, most developing countries have 50% of their population under the age of 24.