Caroline Shenaz Hossein - Böcker

Knowledge-making in the field of alternative economies has limited the inclusion of Black and racialized people's experience. In Beyond Racial Capitalism the goal is close that gap in development through a detailed analysis of cases in about a dozen countries where Black people live and turn to co-operatives to manage systemic exclusion. Most cases focus on how people use group methodology for social finance. However, financing is not the sole objective for many of the Black people who engage in collective business forms; it is about the collective and the making of a Black social economy. Systemic racism and anti-Black exclusion create an environment where pooling resources, in kind and money, becomes a way to cope and to resist an oppressive system. This book examines co-operatives in the context of racial capitalism-a concept of political scientist Cedric J. Robinson's that has meaning for the African diaspora who must navigate, often secretly and in groups, the landmines in business and society. Understanding business exclusion in the various cases enables appreciation of the civic contributions carried out by excluded racial minorities. These social innovations by Black people living outside of Africa who build co-operative economies go largely unnoticed. If they are noted, they are demoted to an “informal” activity and rationalized as having limited potential to bring about social change. The sheer determination of Black diaspora people to organize and build co-operatives that are explicitly anti-racist and rooted in mutual aid and the collective is an important lesson in making business ethical and inclusive.

People across the globe engage in social and solidarity economics to help themselves, their community, and society on their own terms. Community Economies in the Global South examines how people who conscientiously organize rotating savings and credit associations (ROSCAs) bring positive changes to their own lives as well as others. ROSCAs are a long-established and well documented practice, especially those organized by women of colour. Members make regular deposits to a fund as a savings that is then given in whole or in part to each member in turn based on group economics. This book spotlights women in Latin America, the Caribbean, Africa, and Asia who organize and use these associations, composed of ordinary people belonging to similar class origins who decide jointly on the rules to suit the interests of their members. The case studies show how they vary greatly across countries in the Global South, demonstrating that ROSCAs are living proof that diverse community economies do exist and have been around for a very long time. The contributors recount stories of the self-help, activism, and perseverance of racialized people in order to push for ethical, community-focused business, and to hold onto local knowledge, grounded theory, and lived experience, reducing the need to rely on external funding as people find ways to finance sustainable, debt-free business ventures. The first collection on this topic edited by two women of colour with roots in the Global South, this volume is a rallying call to other scholar-activists to study and report on how racialized people come together, pool goods, and diversify business in the Global South.

This pioneering book explores the meaning of the term “Black social economy,” a self-help sector that remains autonomous from the state and business sectors.

This pioneering book explores the meaning of the term “Black social economy,” a self-help sector that remains autonomous from the state and business sectors.

When Grameen Bank was awarded the Nobel Peace Prize in 2006, microfinance was lauded as an important contributor to the economic development of the Global South. However, political scandals, mission-drift, and excessive commercialization have tarnished this example of responsible or inclusive financial development. Politicized Microfinance insightfully discusses exclusion while providing a path towards redemption.In this work, Caroline Shenaz Hossein explores the politics, histories and social prejudices that have shaped the legacy of microbanking in Grenada, Guyana, Haiti, Jamaica and Trinidad. Writing from a feminist perspective, Hossein’s analysis is rooted in original qualitative data and offers multiple solutions that prioritize the needs of marginalized and historically oppressed people of African descent. A must read for scholars of political economy, diaspora studies, social economy, women’s studies, as well as development practitioners, Politicized Microfinance convincingly deftly argues for microfinance to return to its origins as a political tool, fighting for those living in the margins.