A friend of mine used the phrase “corrective bias” yesterday. My ears picked up at that! By corrective bias, he meant taking a strong disproportionately one-sided stand, to help counteract or correct a pervasive bias on the other side. My friend was using the term in the context of American politics, where there are strong voices propagating regressive points of view in an organized and persistent way, which have succeeded in moving the political center very far to the right. In that context, many people think that it’s not appropriate to keep compromising, or being reasonable. Rather, it’s necessary to be organized and persistent on the other side.
The phrase “corrective bias” resonated with me, because that’s something I do around community-managed savings-led finance. I come down strongly for that ideal, because there is a partnership among Big Finance, Big Donor, and Big NGO to promote the idea of top-down for-profit credit-led microfinance. They also have been propagating their views in an organized and persistent way. As in any good propaganda campaign, they have a catchy and friendly term for it: “Financial Inclusion”. Don’t be fooled: financial inclusion means that the norm, the condition for full personhood, is to be a client of for-profit financial institutions. While I use banks, and everyone around me uses banks, if the lack of an alternative doesn’t bother you, then you don’t read the news.
So, count on Savings Revolution to be a voice for alternatives, the voice for savings and community management. I promise to be consistently biased, as a corrective measure!
Originally posted 11th July 2015 by Paul Rippey
Reader Comments (2)
Hi Paul, we are hatching a new concept here at the Carsey Institute called the Community based Financial Inclusion Initiative which has a very different definition of the almost worn out phrase "financial inclusion". Community based financial inclusion and community economic development, which we've been working on since 1982, are more interested in financial models where the owners are the users and the user define what it means to be a customer and shareholder.
I hope to write more on this exciting, new adventure soon.
Mon, July 15, 2013 | William Maddocks
Yay for you Paul. Keep on that corrective bias! Viva la revolucion...
Wed, July 17, 2013 | Jill Thompson