About 40 years ago, with a fresh Stanford MBA, I followed a similar path into economic development with the World Bank. While there has been enormous progress, particularly for the Middle Income Countries, much remains to be done. To give some perspective, 50 years ago Korea was thought to be a perenial basket case and declared so by the US Congress, China and India were caught in a web of perpetual famine and poverty, Brazil could not get out of a cycle of hyper inflaction, Turkey was all potential waiting to be released, etc. That has all changed markedly and gratifyingly, but what hasn’t is the still uneven distribution of the new wealth and the large numbers still caught in abject poverty. It is encouraging to see a new generation trying to tackle these problems with innovative new tactics. I wish you, Premal and the others at Kiva, well.
COMMENTS
BY HOA Lender
ON September 19, 2008 01:32 PM
Kiva is wonderful concept and micro-lending is in its infancy.
BY R S Gregory
ON September 19, 2008 02:45 PM
About 40 years ago, with a fresh Stanford MBA, I followed a similar path into economic development with the World Bank. While there has been enormous progress, particularly for the Middle Income Countries, much remains to be done. To give some perspective, 50 years ago Korea was thought to be a perenial basket case and declared so by the US Congress, China and India were caught in a web of perpetual famine and poverty, Brazil could not get out of a cycle of hyper inflaction, Turkey was all potential waiting to be released, etc. That has all changed markedly and gratifyingly, but what hasn’t is the still uneven distribution of the new wealth and the large numbers still caught in abject poverty. It is encouraging to see a new generation trying to tackle these problems with innovative new tactics. I wish you, Premal and the others at Kiva, well.
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