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Breaking the vicious circle of debt and poverty, LETS help people to help themselves: a study of the Western world's response to the Third World debt crisis and the introduction of an alternative monetary system (LETS) as a poverty alleviation tool.

Tighe, Ella (1999) Breaking the vicious circle of debt and poverty, LETS help people to help themselves: a study of the Western world's response to the Third World debt crisis and the introduction of an alternative monetary system (LETS) as a poverty alleviation tool. Undergraduate thesis, Dublin, National College of Ireland.

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Abstract

"Unless we want a third millenium marked by resentment, violence, fanaticism and despotism, there is a growing consensus that the debt must be wiped out" Samlaman Rushdie (as cited by O'Kane, 1999.
The Third World debt crisis represents a continuing humanitarian crisis for some of the world's poorest people. As a business student with a European perspective, the current disaster necessitates moving from the comfort zone of the Celtic Tigere and Euroland to a global consciousness.
The monetary systems as a causative factor of the debt crisis is viewed alongside prevalent perspectives. Before the responses to the crisis are examined, the view that the Third World debt crisis is in fact the First World's disaster is considered.
Today's Western culture of technological advances and economic progress is tangibly visible within Ireland's Celtic transformation. Nevertheless, there has been no breakthrough in solving the most pressing problems facing modern society. The debt crisis has been blamed by many as the root cause of unemployment, lost markets, drugs and environmental destruction in the West.
The author is keenly aware of the challenge of undertaking a project with much social and political implications for discussion within its economic framework. The aim of the review and analysis of the literature is not to validate personal belief systems, but to further enlighten the debate by exploring a creative and potential solution to the devastating effects of the crisis on the poor. An alternative monetary system or 'local currency' is proposed to alleviate poverty in the Third World.
The interconnectedness of the individual, local community, national policy and international justice and peace is implicit throughout the investigation. It is hoped the reader will develop and interest in Third World affairs. Above all it is anticipated that the study succeeds in relaying the crucial message of empowering people to help themselves when policies and strategies fail to meet their needs.

Item Type: Thesis (Undergraduate)
Subjects: H Social Sciences > HG Finance > International Finance. International Monetary System
H Social Sciences > HC Economic History and Conditions > Development Economics
Divisions: School of Business > BA (Honours) in European Business and Languages
Depositing User: Tim Lawless
Date Deposited: 11 May 2010 14:11
Last Modified: 27 Apr 2012 09:52
URI: http://trap.ncirl.ie/id/eprint/192

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