Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Bücher
Zeitschriften
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
MTZ-Fachkongress

Antriebe und Energiesysteme von morgen


Austausch von Automobil- und Energiewirtschaft

Am 14./15. Mai geht es in Chemnitz um die Mobilitätswende durch Elektro- und Wasserstofffahrzeuge.
Erweiterte Suche
Anmelden
nach oben
Erschienen in:
Introduction Kapitel lesen Erstes Kapitel lesen

2021 | OriginalPaper | Buchkapitel

8. Confronting the Power of Money: The Anti-Debt Movements

verfasst von : Balihar Sanghera, Elmira Satybaldieva

Erschienen in: Rentier Capitalism and Its Discontents

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

This chapter examines the grassroots mobilisation against the harmful effects of the neoliberal commodification of money and predatory lending in Kazakhstan and Kyrgyzstan. The anti-debt movements problematised and denaturalised debt relations, and demanded strong state regulation of financial practices. The movement activists evolved in their interpretation of their situation and attribution of blame, leading the political regimes to suppress them in favour of financial capital. The anti-debt resistance was also hampered by lack of class solidarity and internal social tensions. The chapter discusses how resistance and social struggles unfolded in each country, and what outcomes were achieved.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren
Vorheriges Kapitel The Right to the City: The Land and Housing Movements
Nächstes Kapitel Fighting the Commodification of the Extractive Industries: The Labour and Environmental Movements
Fußnoten
1
A mortgage loan of 79,200 USD for a small studio at 15% interest rate over 30 years would amount to 249,880 USD in interest payments in addition to the principal (Azattyk, 2014).
 
2
In 2015, there were 24 commercial banks, including 16 with foreign share capital. Ten of these had foreign shareholdings of more than 50% (International Finance Corporation, 2016). There are only two state-owned banks, accounting for 18% of the total banking sector.
 
3
In Kyrgyzstan, the official estimate of microcredit borrowers reached 536,662 people in 2016 (Akchabar, 2016). In 2018, the number of people with credit loans in Kyrgyzstan had increased by 64.7%. Kyrgyzstan is predicted to have a full-blown over-indebtedness crisis, and is among the dangerously ‘at-risk’ countries (Bateman, 2018).
 
4
According to a lawyer, Ruzelya Tranbaeva, banks and MFIs in in Kyrgyzstan forced borrowers to sign an agreement on extrajudicial seizure of property as a condition for obtaining credit (Kudryavtseva, 2016).
 
5
Debt-related suicide cases are difficult to document as they are often not registered as such by the police. According to a civic activist, Shamil Murat, six women, who had several small children, committed suicide in Talas. Erlanbek Omuraliev, the head of the public association Kutman-Zhol, documented eleven suicides in Naryn. There were no prosecutions, because it was not possible to prove that financial institutions were responsible, even though there were suicide notes blaming them (Vesti, 2012).
 
6
It is particularly noteworthy that the centre-right, pro-business oppositional parties, which had plenty of economic resources, failed to respond to social grievances.
 
7
The country division of FINCA launched its microcredit operations in 1995 with a seven-year grant from the USAID (Yale School of Management, 2011b). In 1996, Mercy Corps, a US NGO, received a USAID grant to launch a microfinance programme to support entrepreneurial women in rural areas. It started four regional micro-lending organisations, which were later reorganised to become Kompanion (Yale School of Management, 2011c). In 2000, Bai Tushum, a small local NGO, was partnered with a US NGO, which received a USAID grant to expand micro-lending in rural areas.
 
Literatur
Aliev, T. (2015). Bednost’ v Kazakhstane. Mirovaya Ekonomika i Mezhdunarodnye Otnosheniya, 59(12), 105–115.
Andreucci, D., García-Lamarca, M., Wedekind, J., & Swyngedouw, E. (2017). ‘Value grabbing’: A political ecology of rent. Capitalism Nature Socialism, 28(3), 28–47.
Bateman, M. (2010). Why doesn’t microfinance work? The destructive rise of local neoliberalism. Zed Books.
Bateman, M. (2018). Small loans, big problems: The rise and fall of microcredit as development policy. In H. Fagan & R. Munck (Eds.), Handbook on development and social change (pp. 131–150). Edward Elgar Publishing.
Bourdieu, P. (1998). Practical reason: On the theory of action. Polity Press.
Crossley, N. (2002a). Making sense of social movements. Open University Press.
Crossley, N. (2002b). Global anti-corporate struggle: A preliminary analysis. British Journal of Sociology, 35(4), 667–691.
Engel, S. (2019). Microfinance as poverty-shame debt. Emotions and Society, 1(2), 181–196.
Fedirici, S. (2014). From commoning to debt: Financialization, microcredit, and the changing architecture of capital accumulation. The South Atlantic Quarterly, 113(2), 231–244.CrossRef
Goodwin, G. (2018). Rethinking the double movement: Expanding the frontiers of Polanyian analysis in the Global South. Development and Change, 49(5), 1268–1290.CrossRef
Graeber, D. (2011). Debt: The first 5,000 years. Melville House Publishing.
Hudson, M. (2015). Killing the host: How financial parasites and debt bondage destroy the global economy. CounterPunch Books.
International Finance Corporation. (2016). Islamic banking and finance: Opportunities across micro, small and medium enterprises in Kyrgyz Republic. International Finance Corporation.
International Monetary Fund. (2010). Republic of Kazakhstan: 2010 Article IV Consultation (IMF Country Report No. 10/241). International Monetary Fund.
Janda, K., & Turba, B. (2013). Determinants of the financial performance of microfinance institutions in Central Asia. Post-Communist Economies, 25(4), 558–569.
Jessop, B. (2002). The future of the capitalist state. Polity.
Jessop, B. (2015). Hard cash, easy credit, fictitious capital: Critical reflections on money as a fetishised social relation. Finance and Society, 1(1), 20–37.CrossRef
Karim, L. (2011). Microfinance and its discontents. University of Minnesota Press.
Keating, C., Rasmussen, C., & Rishi, P. (2010). The rationality of empowerment: Microcredit, accumulation by dispossession, and the gendered economy. Signs, 36(1), 153–176.
Lawler, S. (2004). Rules of engagement: Habitus, power and resistance. The Sociological Review, 52(2), 110–128.CrossRef
Mader, P. (2015). The financialisation of poverty. Palgrave Macmillan.
Nasritdinov, E., & Schroder, P. (2017). Re/claiming Bishkek: Contestation and activism in the city of two revolutions. Central Asian Affairs, 4(2), 97–128.CrossRef
Niyazbekov, N. (2018). Is Kazakhstan immune to color revolutions? The social movements perspective. Demokratizatsiya, 26(3), 401–426.
Ostrowski, W. (2009). The legacy of the ‘colored revolutions’: The case of Kazakhstan. Journal of Communist Studies and Transition Politics, 25(2–3), 347–368.CrossRef
Paprocki, K. (2016). ‘Selling our own skin’: Social dispossession through microcredit in rural Bangladesh. Geoforum, 74, 29–38.CrossRef
Parenti, C. (2015). The environment making state: Territory, nature and value. Antipode, 47(4), 829–848.CrossRef
Polanyi, K. (1944). The great transformation: Economic and political origins of our time. Rinehart.
Porta, D., & Diani, M. (2006). Social movements: An introduction. Blackwell Publishing.
Radnitz, S. (2010). Weapons of the wealthy: Predatory regimes and elite-led protests in Central Asia. Cornell University Press.
Ruziev, K., & Dow, S. (2013). A review of banking sector reforms in transition economies (Working Paper 03/13). Centre for Global Finance, University of the West of England.
Sabi, M. (2015). Supply of Islamic microfinance in Central Asia: The case study of Tajikistan and Kyrgyzstan. International Journal of Islamic Finance, 7(2), 9–27.
Sanghera, B. (2020). Justice, power and informal settlements: Understanding the juridical view of property rights in Central Asia. International Sociology, 35(1), 22–44.CrossRef
Satybaldieva, E. (2018). A mob for hire? Unpacking older women’s political activism in Kyrgyzstan. Central Asian Survey, 37(2), 247–264.CrossRef
Sayer, A. (2015). Time for moral economy? Geoforum, 65, 291–293.
Soederberg, S. (2012). The Mexican debtfare state: Dispossession, micro-lending, and the surplus population. Globalizations, 9(4), 561–575.
Soederberg, S. (2014). Debtfare states and the poverty industry. Routledge.
Sultakeev, K., Karymshakov, K., & Sulaimanova, B. (2018). The impact of microfinance on entrepreneurship in Kyrgyzstan. Acta Oeconomica Pragensia, 26(2), 24–40.CrossRef
Tombs, S. (2012). State-corporate symbiosis in the production of crime and harm. State Crime Journal, 1(2), 170–195.
Whyte, D., & Wiegratz, J. (2016). Neoliberalism and the moral economy of fraud. Routledge.
Wiegratz, J. (2016). Neoliberal moral economy: Capitalism, socio-cultural change and fraud in Uganda. Rowman and Littlefield.
Yessenova, S. (2010). Borrowed places: Eviction wars and property rights formalization in Kazakhstan. In Economic action in theory and practice: Anthropological investigations, research in economic anthropology (30, pp. 11–45).
Metadaten
Titel
Confronting the Power of Money: The Anti-Debt Movements
verfasst von
Balihar Sanghera
Elmira Satybaldieva
Copyright-Jahr
2021
Buch
Rentier Capitalism and Its Discontents

Print ISBN: 978-3-030-76302-2

Electronic ISBN: 978-3-030-76303-9

Copyright-Jahr: 2021

DOI
https://doi.org/10.1007/978-3-030-76303-9_8

Premium Partner

    Bildnachweise