I tend toward curmudgeonry, as you might have noticed. And I don't spare new technologies of my skepticism even though I am a natural computer programmer. (Really, what was so bad about punch cards?) I don't have a smart phone, but am pleased with two features of my dumb phone: It can receive calls. And it can make them too.
CGD Policy Blogs
Nicholas Kristof's column today is about the promise of microsavings. He starts by describing what must be a Village Savings & Loan Association (VLSA), operated by Catholic Relief Services in Nicaragua:
“We used to buy a three-liter bottle of Coke every day,” recalled Socorro Machado, a 49-year-old homemaker in a village here in northwestern Nicaragua. That was a bit less than a gallon, and the cost of $1.75 consumed a large share of the family’s budget.