Download e-book for iPad: El Norte or Bust!: How Migration Fever and Microcredit by David Stoll

By David Stoll

Debt is the hidden engine riding undocumented migration to the us. So argues David Stoll during this robust chronicle of migrants, moneylenders, and swindlers within the Guatemalan highlands, one of many locales that, jointly, are sending thousands of Latin americans north looking for better wages. As an anthropologist, Stoll has witnessed the Ixil Mayas of Nebaj develop in numbers, run out of land, and fight to discover employment. reduction corporations have supplied microcredits to show the Nebajenses into marketers, yet credits by myself can't improve productiveness in crowded mountain valleys, that is why many recipients have invested the loans in smuggling themselves to the U.S.. again domestic, their remittances have inflated the cost of land so excessive that in simple terms migrants can find the money for to shop for it. therefore, extra Nebajenses have felt obliged to borrow the massive sums had to pass north. such a lot of have performed in order that, even ahead of the good Recession hit the U.S. in 2008, many have been not able to discover sufficient paintings to pay again their loans, triggering a monetary crash again domestic. Now migrants and their households are wasting the land and houses they've got pledged as collateral. Chain migration, moneylending, and massive households, Stoll proposes, have changed into pyramid schemes during which the bad move threat and loss to their close to and dear.

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El Norte or Bust!: How Migration Fever and Microcredit Produced a Financial Crash in a Latin American Town by David Stoll


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