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Please respond to the following posts individually in no more than 50 words
1. S
Please respond to the following posts individually in no more than 50 words
1. SM-Why is there a need for organizations like Kiva? Explains the principle of the “invisible hand” according to Adam Smith as related to entrepreneurs. Organizations like Kiva are needed because they address fundamental gaps in traditional financial systems. A philosopher named Adam Smith introduced the concept of the “invisible hand” in his influential work, “The Wealth of Nations.” The invisible hand refers to the self-regulating nature of markets, where individuals acting in their self-interest unknowingly promote the collective good of society.
Why is lending money to entrepreneurs a better idea in developing an economy than seeking donations to alleviate economic hardships?
To help reduce economic hardships in developing economies, lending money to entrepreneurs is more effective than seeking donations because it encourages responsible risk-sharing between lenders and borrowers, market-driven strategies, sustainable development, individual responsibility, and a positive impact on the economy. It allows entrepreneurs to give back to their community, and create job opportunities!
Discuss why many think capitalism gives entrepreneurs the best opportunity to be successful. Why would an entrepreneur in the United States need a microloan from Kiva.org?
Many believe that capitalism provides entrepreneurs with the best opportunity for success because it promotes creativity, and entrepreneurial activity, and permits people to freely follow their economic interests, many individuals think that capitalism offers entrepreneurs the best chance for success. Kiva.org’s platform allows entrepreneurs to leverage the power of community support and receive funding from individuals who believe in their vision and potential.
2. AB-Kiva provide essential capital to small entrepreneurs in developing economies, fostering economic growth and reducing poverty. Microloans from Kiva promote long-term sustainability by empowering individuals to invest in their businesses, generating income, and breaking the cycle of poverty. Unlike donations, repayment of these loans creates a cycle of support, stimulating economic development. Capitalism’s emphasis on competition and innovation offers entrepreneurs opportunities for success, yet some in the US, especially from marginalized communities, may still need microloans from Kiva to overcome financial barriers and achieve their business goals.
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