Welcome to Scribd. Sign in or start your free trial to enjoy unlimited e-books, audiobooks & documents.Find out more
Buy Now $34.99
Standard view
Full view
of .
Look up keyword or section
Like this
2Activity

Table Of Contents

Great Expectations in a Guatemalan Town
A Town of Many Projects
Borrowers, Moneylenders, and Banks
Projects and Their Penumbra—Swindles
Losing Husbands to El Norte
Dreams and Pyramid Schemes
The Right to Not Migrate
P. 1
El Norte or Bust!: How Migration Fever and Microcredit Produced a Financial Crash in a Latin American Town

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

Ratings: (0)|Views: 49|Likes:
Published by RowmanLittlefield
Debt is the hidden engine driving undocumented migration to the United States. So argues David Stoll in this powerful chronicle of migrants, moneylenders, and swindlers in the Guatemalan highlands, one of the locales that, collectively, are sending millions of Latin Americans north in search of higher wages. As an anthropologist, Stoll has witnessed the Ixil Mayas of Nebaj grow in numbers, run out of land, and struggle to find employment. Aid agencies have provided microcredits to turn the Nebajenses into entrepreneurs, but credit alone cannot boost productivity in crowded mountain valleys, which is why many recipients have invested the loans in smuggling themselves to the United States. Back home, their remittances have inflated the price of land so high that only migrants can afford to buy it. Thus, more Nebajenses have felt obliged to borrow the large sums needed to go north. So many have done so that, even before the Great Recession hit the U.S. in 2008, many were unable to find enough work to pay back their loans, triggering a financial crash back home. Now migrants and their families are losing the land and homes they have pledged as collateral. Chain migration, moneylending, and large families, Stoll proposes, have turned into pyramid schemes in which the poor transfer risk and loss to their near and dear.
Debt is the hidden engine driving undocumented migration to the United States. So argues David Stoll in this powerful chronicle of migrants, moneylenders, and swindlers in the Guatemalan highlands, one of the locales that, collectively, are sending millions of Latin Americans north in search of higher wages. As an anthropologist, Stoll has witnessed the Ixil Mayas of Nebaj grow in numbers, run out of land, and struggle to find employment. Aid agencies have provided microcredits to turn the Nebajenses into entrepreneurs, but credit alone cannot boost productivity in crowded mountain valleys, which is why many recipients have invested the loans in smuggling themselves to the United States. Back home, their remittances have inflated the price of land so high that only migrants can afford to buy it. Thus, more Nebajenses have felt obliged to borrow the large sums needed to go north. So many have done so that, even before the Great Recession hit the U.S. in 2008, many were unable to find enough work to pay back their loans, triggering a financial crash back home. Now migrants and their families are losing the land and homes they have pledged as collateral. Chain migration, moneylending, and large families, Stoll proposes, have turned into pyramid schemes in which the poor transfer risk and loss to their near and dear.

More info:

Publish date: Nov 15, 2012
Added to Scribd: Nov 21, 2012
Copyright:Traditional Copyright: All rights reservedISBN:9781442220690
List Price: $34.99 Buy Now

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
This book can be read on up to 6 mobile devices.
Buy the full version from:Amazon
See more
See less

07/04/2015

297

9781442220690

$34.99

USD

You're Reading a Free Preview
Pages 12 to 99 are not shown in this preview.
You're Reading a Free Preview
Pages 111 to 145 are not shown in this preview.
You're Reading a Free Preview
Pages 157 to 187 are not shown in this preview.
You're Reading a Free Preview
Pages 199 to 218 are not shown in this preview.
You're Reading a Free Preview
Pages 230 to 297 are not shown in this preview.

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->