A history and anthropological analysis of one of Papua New Guinea’s
worst Ponzi schemes in the late 1990s. 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 one 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
9780253035646
Publisert
2021
Utgiver
Vendor
Indiana University Press
Språk
Product language
Engelsk
Format
Product format
Digital bok
Forfatter