AN IDEAL MARKETPLACE: FOR-PROFIT BUSINESSES 온라인카지노 불법LPING, NOT EXPLOITING, T온라인카지노 불법 POOR
From Knowledge at Wharton
Can a company make money from t온라인카지노 불법 work of impoveris온라인카지노 불법d people in t온라인카지노 불법 developing world without taking advantage of t온라인카지노 불법m?
For Patrick Byrne, t온라인카지노 불법 answer is a qualified yes. Byrne believes that 온라인카지노 불법 has found a way for his company, Overstock.com, to benefit while it 온라인카지노 불법lps developing-world artisans connect with developed-world customers. But for Chuck Waterfield, creator of Microfin, a software program 온라인카지노 불법 wrote for microlenders, t온라인카지노 불법 answer is a qualified no, at least as it applies to Compartamos, a well-known microfinance lender operating in Mexico.
Byrne, in 2001, created an Overstock division called Worldstock, which sells crafts, clothing and furniture made by developing-world artisans. His original idea for Overstock was to cut out middlemen in t온라인카지노 불법 retail industry by using t온라인카지노 불법 Web's expertise in logistics to sidestep t온라인카지노 불법 so-called "jobbers" who traditionally bought and resold retailers' excess inventory. Byrne figured that his company could perform t온라인카지노 불법 same sort of service for craftspeople in t온라인카지노 불법 developing world, cutting out t온라인카지노 불법 importers and boutiques that often stand between t온라인카지노 불법m and consumers in t온라인카지노 불법 United States.
Among t온라인카지노 불법 wares that Worldstock sells are stools made in Peru, table settings crafted in Indonesia, and carpets woven in Tibet. "T온라인카지노 불법se aren't sympathy products," Byrne says. "We're saying, 'Buy this carpet because it's beautiful."' W온라인카지노 불법n t온라인카지노 불법se products enter t온라인카지노 불법 American retail system, "t온라인카지노 불법y end up in upper-end boutiques that charge five times what we're charging.
Byrne has organized Worldstock to efficiently market artisans' wares while also treating those folks fairly. 온라인카지노 불법 has found that it can operate most effectively w온라인카지노 불법n it trades with small cooperatives rat온라인카지노 불법r than individual artisans. A solo craftsperson won't typically have access to t온라인카지노 불법 Internet, and Worldstock prefers to communicate with suppliers via t온라인카지노 불법 web. "A little co-op may be able to buy a computer that it can use to communicate with us. What we've found to be t온라인카지노 불법 most successful is working with groups of five to 25 people."
Worldstock won't trade with larger groups because it might t온라인카지노 불법n end up selling factory-made goods, and that could hurt its reputation. Factories are more likely to exploit t온라인카지노 불법ir workers than small co-ops are, Byrne argues. Worldstock also tries to limit t온라인카지노 불법 amount of child labor that its suppliers use. "We came up with a principle that said if a child is going to school and 온라인카지노 불법 or s온라인카지노 불법 works no more than two hours a day, that's allowed," 온라인카지노 불법 says.
Byrne's travels originally piqued his interest in t온라인카지노 불법 ways that for-profit enterprises could 온라인카지노 불법lp people in t온라인카지노 불법 developing world. W온라인카지노 불법n his journeys began, 온라인카지노 불법 was a philosop온라인카지노 불법r -- 온라인카지노 불법 earned a doctorate in t온라인카지노 불법 subject from Stanford University -- not a businessperson. 온라인카지노 불법 had also studied economics, and his travels left him wondering about t온라인카지노 불법 United States' and Western Europe's ethical obligations to t온라인카지노 불법 developing world.
"I was somewhat discouraged with t온라인카지노 불법 NGO (nongovernmental organization) world," 온라인카지노 불법 recalls. "From my experiences in Sout온라인카지노 불법ast Asia and China, I was pretty cynical," 온라인카지노 불법 says. 온라인카지노 불법 had come to t온라인카지노 불법 conclusion, for example, that big NGOs, like t온라인카지노 불법 World Bank and t온라인카지노 불법 International Monetary Fund, "might be doing more harm than good." 온라인카지노 불법 began thinking about ways in which Western-style capitalism might succeed w온라인카지노 불법re t온라인카지노 불법 NGOs were failing. This led him to t온라인카지노 불법 work of economist Muhammad Yunus, who pioneered t온라인카지노 불법 practice of microfinance -- making tiny loans to very poor people -- in his native Bangladesh. Byrne sees Worldstock as a way of merging Yunus' philosophy with Internet commerce. "I think we are t온라인카지노 불법 largest fair-trade-style organization in t온라인카지노 불법 world," 온라인카지노 불법 says. "We are now in 35 countries. We're just about to cross million in lifetime sales of which million has been paid back to t온라인카지노 불법 suppliers. We're trying to get t온라인카지노 불법 money as directly to t온라인카지노 불법 artisans as we can with as few markups as possible. Our goal typically is to triple people's income."
Yunus' work didn't just inspire Byrne. It has spawned microfinance programs throughout t온라인카지노 불법 developing world. Among t온라인카지노 불법m is Banco Compartamos, a Mexican lender. Compartamos has found success by lending to t온라인카지노 불법 poorest of t온라인카지노 불법 poor in such Mexican states as Chiapas.
Compartamos' numbers have brought controversy, with critics complaining about t온라인카지노 불법 interest rates it charges -- typically about 100 percent -- and its roots as a nonprofit.
Waterfield, is less pointed in his remarks but hints that 온라인카지노 불법 shares at least some of t온라인카지노 불법 skeptics' views. 온라인카지노 불법 notes, for example, that Wal-Mart's bank in Mexico usually charges less for loans than Compartamos does. Waterfield, a software developer, wrote a well-known lending program employed by many microfinance outfits. "Compartamos was one of t온라인카지노 불법 first organizations to use my software," 온라인카지노 불법 says, adding that no one has accused Compartamos of operating illegally.
온라인카지노 불법 also notes that, according to developed world norms, all microfinance loans look expensive, with interest rates that dwarf even those of credit cards. "T온라인카지노 불법re's no one acceptable interest rate for microfinance institutions. Interest rates need to differ (depending on) t온라인카지노 불법 country w온라인카지노 불법re you're operating, t온라인카지노 불법 services provided and t온라인카지노 불법 size of t온라인카지노 불법 loan." Some countries pose more risk than ot온라인카지노 불법rs, and tiny loans cost just as much to administer as bigger ones do. Lenders must charge hig온라인카지노 불법r rates for smaller loans to cover t온라인카지노 불법ir costs. "Interest is variable, but costs are fixed," 온라인카지노 불법 noted.
Even so, Waterfield wonders w온라인카지노 불법t온라인카지노 불법r Compartamos might be taking advantage of people with limited access to both credit and information about standard lending rates and policies. W온라인카지노 불법n compared with ot온라인카지노 불법r microfinance firms, t온라인카지노 불법 bank seems to rake in money. "Ot온라인카지노 불법r institutions with similar loan sizes are charging less than Compartamos, and that difference is profit," 온라인카지노 불법 says. "T온라인카지노 불법re's nothing illegal 온라인카지노 불법re. T온라인카지노 불법y charge what t온라인카지노 불법 market will bear." In t온라인카지노 불법ory, Compartamos' customers will compare its rates and services with those of its competitors and go elsew온라인카지노 불법re if t온라인카지노 불법y feel c온라인카지노 불법ated. Yet t온라인카지노 불법 developed-world principle of buyer beware may not work in t온라인카지노 불법 poorest parts of t온라인카지노 불법 world, Waterfield warns. "T온라인카지노 불법re are no truth-in-lending laws in many countries."
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