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We should help threatened Islamic states with micro-credit and banking

Page history last edited by PBworks 15 years ago

Romney has said that we should help threatened Islamic states with micro-credit and banking.


What do you think? This is what I was able to come up with:


Reasons to agree:

  1. If we use money helping countries become stable and provide for their citizens, we won't have to defend ourselves against angry people who are full of hate, with nothing to loose, who want to kill us.
  2. Microcredits help small businesspeople.
  3. You need money to make money.
  4. If you have enough money to buy tools, you can use your efforts in much more efficient ways.
  5. Microcredits reward initiative.
  6. Micro-credits are more cost efficient than welfare, because the person who makes the loan should expect to make most of the money back.
  7. Credit is good.
  8. Mohammad Yunus, who received a Nobel Peace Prize for starting micro-credits, was Muslim. Mohammad Yunus created the core concepts of microcredit in the mid 70s in Bangladesh, which is predominately Muslim.
  9. Today, Grameen Bank (which means village bank) provides loans to over 7 million poor. Grameen claims a loan repayment rate of over 98%. (http://en.wikipedia.org/wiki/Grameen_Bank)
  10. Today, there are thousands of organizations around the globe that replicate and follow the principals of Grameen.
  11. "Last year, I was on a trip in Northern India with Unitus, a non-profit organization, which helps accelerate the growth of emerging microcredit organizations. We were in a city which was predominately Muslim and we were working with a microcredit organization that focused on loaning to the Muslim poor in that city. It was an interesting experience to see Evangelicals, Mormons, Hindus and Muslims all working together to solve the terrible scourge of poverty." - Tim Stay
  12. Microcredit isn't the answer to all poverty issues, but it is a tremendous tool that has proven to be very effective in alleviating poverty. If the money was redirected from a number of these Government aid programs into microcredit, I believe we could have a significant impact upon poverty. I believe it is a powerful tool for peace in the world and I think that is why the Nobel Peace Prize went to Mohammad Yunus and to Grameen Bank. In the announcement by the Nobel Peace Prize committee, they stated: "Lasting peace can not be achieved unless large population groups find ways in which to break out of poverty. Micro-credit is one such means."
  13. "I also think the principles of microcredit fit so well with the principles that Mitt advocates of personal responsibility, the ability of the individual to achieve great things given the right resources, and of putting the concepts of capitalism to work to solve poverty." - Tim Stay
  14. Dr. Muhammad Yunus said, "Poor people are not asking for charity. Charity is not a solution for poverty." He also said, "This is not charity. This is business: business with a social objective, which is to help people get out of poverty."


Reasons to disagree:

  1. Muslims don't use credit.


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