Les marchés de la vertu : la promesse des fonds éthiques et des micro-crédits
Javier Santiso
Ethically correct policies sometimes, even often, skeptics will say, simply reflect a good grasp of where one's interests lie. The creation of an ethical fund or involvement in a micro-finance program may only be a way of pandering to the times or improving one's self-esteem in a convoluted fashion. However, these tributes to virtue nevertheless raise a number of contemporary questions and issues. The sums invested in ethical funds are far from merely symbolic. In the United States, one out of every ten dollars is invested in "ethical" financial instruments. In Europe, they are developing quickly. As for micro-loan experiments, from Bangladesh to Bolivia, the profitable results they have yielded to all parties are proof that they warrant taking an interest in them. As the present research emphasizes, the use of ethical funds and micro-loans, although it may not bridge the gap between past and future, nevertheless shows promise for the years to come: it provides a temporal horizon that the commonly-called international civil society takes part in shaping
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