Saturday, November 27, 2010
Simpler Ways for the Worlds Poor to Slave
This article discusses the new opportunities technology has allowed for the world's poor to save. The two developing forums of micro savings come from kiosk's and cell phone money transfer's. Both opportunities allow for small deposits and transfers of funds that allow the poor to grow wealth. As we learn it is important for people to have some savings for investment and still consumer and the proper banking options will make both more accessible for the worlds poor.
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These two developing ideas are definitely useful for poor countries. Micro finance and micro saving programs help LDC's substantially by allowing them to grow and support themselves. Although these opportunities in technology are helping, the United States coming out with new technology every couple months puts a set back on LDC's. As we are developing fast, they are far behind us.
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