I have just published the longer and I hope more interesting installment of my two-part blog on behavioral economics and in particular, on the implications of the arguments made in the book Scarcity for microfinance and more broadly for international development. It includes a brief analysis of Fonkoze’s CLM (“Pathway to a Better Life”) program through the behavioral economics lens.
The Center for Financial Inclusion (on whose Advisory Council I proudly serve) has done a great service by defining a very important concept: “full financial inclusion.” They have not, however, made it easy to find that definition online so I have taken it upon myself to create this blog post with the single purpose of reproducing their definition, which is (in its most recent formulation):
Financial inclusion means that everyone who can use them has access to a range of quality financial services at affordable prices with convenience, respect, and dignity, delivered by a range of providers in a stable, competitive market to financially capable clients. Quality and access are the double heart of CFI’s vision.
As promised in my last blog, I have written a two-part blog on the behavioral economics-based analysis of scarcity in an important new book. Part one has been posted today on the Grameen Foundation blog. Part two will be published later this week.