February 19, 2012 6:00 PM. 8 attended.

Chinatown Dinner: Microlending Pitfalls, Made in America, Survival of Internet

Famous Sichuan (map)

Selected By: Bill

We'll be going to Famous Sichuan, an inexpensive but high-quality Chinese restaurant south of Canal in Chinatown. They have an aquarium out front where you can pick the fish you want to eat. You can get a decent entree there for $12, not including tax & tip. For their menu, see http://www.famoussichuan.com/

Please don't show up without RSVP'ing. A $5 deposit is required to RSVP.  Your $5 will be refunded to you in cash when you show up at the event.  Failure to show, or cancellation less than 24 hours before the event, will result in a forfeiture of your deposit.

There has been a lot of publicity in recent years on the subject of "microlending" in the third world -- small loans to poor people, especially women, which have been very socially beneficial.  This article reports that microlending has been going through some growing pains in India.  Loan-related suicides.  In Adam Smith's 1776 Wealth of Nations, he advocated against lending of money at high interest rates, because people who could qualify for loans at lower interest rates tended to be more responsible people, who would make better use of the loan.  He would have been shocked to hear of how Americans routinely borrow at 29% on their credit cards.

Some companies are getting fed up with problems associated with outsourcing their manufacturing in China and are bringing the work back home, in spite of the higher cost.  Made in America.

There has been a lot of excitement over efforts by the US congress to bring the Internet under more control.  What are the other threats to the Internet?  Could the Internet Ever Be Destroyed?

  • Chloe
    Chloe

    Whirlpool gets subsidies; still outsources; pays no taxes since 2008: http://www.youtube.com/watch?v=8GtorIYD1Uk

    Posted February 5 at 10:24 PM
  • Bill
    Bill

    The video on Whirlpool didn't really explain anything, there was just a lot of hand-waving and incitement to hate a big corporation. If Whirlpool has paid no corporate taxes since 2008, how was this achieved -- was there some loophole that they used? And this subsidy ($20 million is chump change for a corporation the size of Whirlpool, with profits of $619 million in 2010) -- what were the conditions under which this subsidy was given?

    Posted February 16 at 11:39 PM
  • Chloe
    Chloe

    Recommend everyone watch this and others in the series:
    http://www.khanacademy.org/video/currency-exchange-introd...
    Currency Exchange Introduction
    Currency Effect on Trade
    Currency Effect on Trade Review
    Pegging the Yuan
    Chinese Central Bank Buying Treasuries
    American-Chinese Debt Loop
    Debt Loops Rationale and Effects
    China keeps peg but diversifies holdings

    Posted February 17 at 10:37 PM
  • Chloe
    Chloe

    I don't expect anyone to read this much before Sunday, but regarding microlending, this is a great book about lending "The Richest Man in Babylon"
    http://en.wikipedia.org/wiki/The_Richest_Man_in_Babylon_(...

    Regarding manufacturing's future & jobs: Manna by Marshall Brain: http://marshallbrain.com/manna1.htm

    Posted February 18 at 12:27 AM
  • Sheryl
    Sheryl

    I'm returning from Vermont on Sunday and believe I can get there on time (or I wouldn't have RSVP'd), but I'm mentioning this just because traffic jams happen. I expect to be there, plan to be there, will be trying to get there...

    Posted February 18 at 6:05 PM
  • Robynn
    Robynn

    Im sorry my car broke down on the way from Brooklyn and there is no way I can make it.

    Posted February 19 at 6:31 PM
  • Bill
    Bill

    That's OK, Robynn, I'm not throwing no-shows out like I used to, you just forfeit your deposit and that's it. Hope you can make it next time!

    Posted February 19 at 9:29 PM
  • You must be a member to post a comment. Join or login.

8 attended
4.50 4.503 (3 ratings)
  • Event Host
    Bill
    Organizer
  • Sheryl
    Especially interesting topics this time - thanks to Bill for exposing me to interesting articles I wouldn't have seen otherwise. Restaurant also was great, really enjoyed my meal.
  • May
    Nice dinner, nice conversation. Very cheap meal!
    Checked-in
  • A former member
  • A former member

Your organizer's refund policy for Chinatown Dinner: Microlending Pitfalls, Made in America, Survival of Internet

Refunds offered if:

  • the Meetup is cancelled
  • the Meetup is rescheduled
  • you can cancel at least 1 day(s) before the Meetup

Additional notes: Your $5 will be refunded to you in cash when you show up. Failure to show, or cancellation less than 24 hours before the event, will result in forfeiture of deposit.

Payments you make go to the organizer, not to Meetup. You must make refund requests to the organizer.

People in this
Meetup are also in:

Log in

Not registered with us yet?

or
Log in using Facebook

Sign up

Meetup members, Log in

or
Sign up using Facebook
By clicking the "Sign up using Facebook" or "Sign up" buttons above, you agree to Meetup's Terms of Service