Fast money schemes : hope and deception in Papua New Guinea

The Resource Fast money schemes : hope and deception in Papua New Guinea

Label

Fast money schemes : hope and deception in Papua New Guinea

Title remainder

hope and deception in Papua New Guinea

Statement of responsibility

John Cox

Language

eng

Summary

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

Cataloging source

DLC

Index

index present

Literary form

non fiction

Nature of contents

dictionaries
bibliography

Series statement

Framing the global series

Context

Context of Fast money schemes : hope and deception in Papua New Guinea

Structured data from the Bibframe namespace is licensed under the Creative Commons Attribution 4.0 International License by University of San Diego Libraries. Additional terms may apply to data associated with third party namespaces.

Context

Work of