Why are loans harmful for the poor?
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About the video: ‘Why are loans harmful for the poor?’
Prabhu Guptara talks about how the charging of interest exacerbates the difference between the rich and poor. The technical term for this is usury – usually understood to mean the charging of excessive rates of interest by loan sharks. Traditionally, however, the term meant the lending of money at any rate of interest, high or low. The practice was forbidden by most major religions and by many societies and cultures throughout history and with good reason, Guptara says. It widens the wealth gap, encourages growth without regard for environmental consequences and creates a culture of short term investor commitment.
Total views: 3,481
Filmed: London, UK on 1 February 2005
Credits: Interviewer - Marcus Morrell Camera and Editor - Marcus Morrell
Copyright © 2005 Big Picture TV
About Prabhu Guptara
Professor Prabhu Guptara is Executive Director, Organisation Development, of Wolfsberg – the Platform for Executive and Business Development (a wholly-owned subsidiary of UBS), in Switzerland.
He’ s a Freeman of the City of London, and of the Worshipful Company of Information Technologists, and Chartered Fellow of the Chartered Institute of Personnel and Development.
He has been a guest contributor to major newspapers and radio channels in the UK as well as numerous such media in other parts of the world.
Since 2006 he is founding member at the World Future Council.
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