In the late 1990s and early 2000s a wave of Ponzi schemes swept
through Papua New Guinea, Australia, and the Solomon Islands. The most
notorious scheme, U-Vistract, attracted many thousands of investors,
enticing them with promises of 100 percent interest to be paid
monthly. Its founder, Noah Musingku, was a charismatic leader who
promoted the scheme as a form of Christian mission and as the basis
for establishing an independent kingdom.
_Fast Money Schemes_ uses in-depth interviews with investors,
newspaper accounts, and participant observation to understand the
scheme's appeal from the point of view of those who invested and lost,
showing that organizers and investors alike understood the scheme as a
way of accessing and participating in a global economy. John Cox
delivers a "post-village" ethnography that gives insight into the
lives of urban, middle-class Papua New Guineans, a group that is not
familiar to US readers and that has seldom been a focus of
anthropological interest. The book's concern with understanding the
interweaving of morality, finance, and aspirations shared by a global
cosmopolitan middle class has wide resonance beyond studies of Papua
New Guinea and anthropology.
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Hope and Deception in Papua New Guinea
Produktdetaljer
ISBN
9780253035639
Publisert
2018
Utgiver
Indiana University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter