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The Economic Philosophy of Micro-Credit System

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  • Sudhanshu K. MISHRA

    (NEHU, Department of Economics, India.)

Abstract

This paper aims at locating the practice of micro-credit system into a larger theoretical canvas of economic theory and philosophy. A systems theoretic approach has been adopted. Emergence of the ‘excluded’ class has been explained with the help of the theory of feedback. Individuals have been assumed to be myopic, local optimizer and bounded rational. In this context, the empirical experiences have been viewed and assessed as to their outcomes.

Suggested Citation

  • Sudhanshu K. MISHRA, 2016. "The Economic Philosophy of Micro-Credit System," Journal of Economic and Social Thought, KSP Journals, vol. 3(2), pages 308-316, June.
    • Handle: RePEc:ksp:journ3:v:3:y:2016:i:2:p:308-316
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    Keywords

    Micro-credit system; economic theory; philosophy; systems theory; self-organizing systems; feedback; exclusion.;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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