The video below uses Flash to deliver streaming content. You can download the Flash player here: http://get.adobe.com/flashplayer/
Here is a direct link to the video file if you’re unable to install Flash: http://depts.washington.edu/geog/vimeo_roy.mp4
The Department of Geography, Simpson Center for the Humanities, and The Space of Democracy and Democracy of Space network welcome Ananya Roy, professor of City & Regional Planning from the University of California, Berkeley for her talk, The Democratization of Capital: Microfinance and Its Discontents.
Microfinance, a poverty-alleviation tool popularized by the Grameen Bank, is today a global industry and a global “asset class.” Indeed, as high finance has come to be discredited as “bad money,” so microfinance is being promoted as a successful and ethical version of subprime finance, a “democratization of capital.” Drawing on research conducted in Washington D.C., Wall Street, Bangladesh, and the Middle East, this talk traces the circuits of truth and capital at work in such forms of “bottom billion capitalism.” It also presents the contradictions and contestations that haunt the democratization of capital, from counter-hegemonic articulations of development in the global South to the sheer limits of frontier strategies that attempt to manage risk amidst the dense relationalities of the bottom billion.