What Is the Problem With Poor Countries?

iaty saw this in action myself in india. In small villages, what they were doing was one woman would use the whole rest of the village as collateral to buy a goat or chicken and then somebody else in the village would do the same. And it just worked brilliantlya little intrumental. Well, john, there is a fantastic economist from peru called hernando de sota who has been writing for many, many years about why poor countries remain poor. He said that one of the problems with very, very poor countries is the collateral that poor people have is not accepted by the banking system as credit. So if you're living in a shanty town, your