"Microenterprises in Developing Countries."

  ============================: THU.MAY,960502 :============================
                  BenFrankin`s word \/ ?
18:30| Victor Niederhoffer960502 Junto | @ Niederhoffer & Niederhoffer | 75
 people Futures trading grp | 635 Madison Av Fl 6 | RSVP 371-4656 ( 04251524
 c> Sue | w be on list as guest of Lew )
 Flyers for May 4 ' Rally to stop Drug War ' distributed .

|19:9| Jim? : Book or Movie anouncements : AltinYee : Africa Betrayed  by
 GeorgeAyittey `92 | only 4 rel free countrys : Botsuana senegal Maurisius
 Gambia | of worst : poorest is 9 champaine importer . wrote Afrika trd
 institutions . he kenyan? | like PaulJohnson did for 20th century | book :
 Inventing the AIDs virus ? | BobGoodman : DrDuseberg : author writes in
 NatnAcadSci : agree w ?bl status of HIV virus | HTLA3 | what is
 Pharmacalogic theory ? | label on ball of syndromes - moving definition |
 Friend says DrD answerd all her ?s | D is cancer researchr : viruss † cause
 of cancers in general | lost grants | opens eyes as to how govt $ spent |
Norm : Salk described self as metabiologist . self injected AIDs virus |
 Fumento AIDs book : African stat contrived . Dusenberg 4’ HIV pos , but fewr
 deaths . in every case identifiable risk | Book on odds of all sorts of life
 experiences | BostonAnarchistBrigade : JoePeacock | Why correlation between
 HIV & AIDs - Dusenberg : drug - poppers - amylnitrate linked w
 Kaposi`sSarcima & alcohol theory | move AIDs from | AZT is DNA chain
 terminator : kills growing cells | causes wasting | AIDs by perscription |
 HIV link may be stat artifact | ArthurAshe ? was sick anyway . thats why had
 transfusions in first case | then given AZT | Ryan White hemoraged
 hemofiliak || Thomas Soul : Migrations & Cultures - the international
 experience | Afirmative action irrelevant | Yi : Race & Kulture : If you
 want to see what is going on w Amer Dreem : Look @ those came here pursueing
 it | Safirs : Atlas Shrugged & Fountainhead | Road to Surfdom | New movie of
 Fountainhead on hold | Movies : The Last Supper : politically incorrect
 | Donahue tapes of AynRand & MiltonFriedman in `80 | TomSnyder Chic
 interview of Rand : top student @ 3 schools in Russia | Young one @
 AnnArbor | AlienNation || Bob : WeeklyStd Cato Steven Moore : Audit from
 Hell IRS manual 3302-102 | will watch life style : level of sophistication &
 cultural level | 1E6 people w get economic reality audit | autopsy w/o
 benefit of death | go thru everything on small sample to have stat accuracy
 | ' fin status ' audit | Apr 3 articl in WSJ says doing || Victor : today
 milestone : yield > .07 for 1st time in ~ 1.5 yrs because ' busn activity
 too strong ' | DrBow Junta founder : Vancouver & SanDiago & Evansville rail
 traffic 3’ normal | Size of cigarette butts on ground [ like DonCampbell`s
 unobtrusive measures ] Brazil buts generous | DrBow : Cost of Prostitution
 : lot of activity @ 42nc st booths but ~ aisles : Gals said tips up ,
 another : tips up & down , related to $s in poket |
July meeting : Agents please identify selvs : w have tru patriot *
| 32 yrs in NY being treated as well - VN leaving NYC except for Junto |
 because of atitude that individual exists to buy votes to redistribute
 wealth | **  | VN has Original edition of AdamSmith : Wealth of Nations |
|19:56| Gary : JudgeBaer`s terrible decision : drug dealers right to run :
 35kg Cok 2Kg Heroin : Statment of MsBalis :credible reject Officer Carol
 lier | Facts Balis driving w MI plates : 4 black men single file | Baliss
 said : Came from MI w friends of son , drove to loc . 1 man went inside
 : Carol incredible : nothing unusual happened . quotes ThomasPaine : origin
 & rise of Govt & limitation | reconsidered on false grounds | sgts notes
 show were walking ~ running | [ the hoel situation is causd by drug law
 created Cop&Robber games ]
|20:5| Speaker : least understood sources of prosperity : Idea of Industrial
 / Govt large institutions ala WW2 | Small cos are of cours source :
 Documenting : leave econ alone runs self | Take advantage of opportunity
 July in CT | Devotional readings from AdamSmith : Micro Enterprizes in
 developing Countrys : WSJ : | 10yrs ago micro cos viewd as uninteresting .
 Inovations in delivery of low cost credit to them | Univers : ~ agri
 enterprizes w <= 10 particapants | often in homes @ end of tarmak rd |
 stratified sampling of Countries : then knok on every door | Rockf & Ford
 foundation financed | EG : Nigeria , `65 - just out of Grad School : started
 counting entepreneurs : 4-5 cars - had to get bak to giv Bach cello
 performance | Army troops - abt start of Biafra war start . saw cello :
 w sub machine gun @ head - ' giant banjo ' - got great publicity : ' perform
 conducted by JohanSBach ' | have interviewed ~ 200k mikroenterprizes
Statik Pik : 0) find huge #s , perhaps .25 of labor force - is large private
 sektor . Compositio : Trading & Mfg ( surgical insturments ) Artisans (
 building ) | Location : ( everywhere except korea ) rural | most : 1 person
 | Profitablility , 1 person survival level , even little larger - quantal
  better in profit & productivity . ( audience : effect simply of having to
  bee better than survival to hire : did it forcast ? yes ) but 2 , 3 got
 most of improvement | small just family ? often , still held | Child labor ?
 minimal * 2 | Motion pik view : change : growth from ( net new firms ) vs
 growth of existing | Birthrate ( US eg D&B stats lowsy ) rate abt .2 ö yr ,
 2’ US - even in Afrika ( hily coorelated w lvl of econ activity - highest
 during bad times ) - Death rate : very hi too . ( autopsys : dies under age
 of 3 ; I : def of death of 1 person firm ? change of career | .2 of firms
 grow , .8 stay same or die . most grow just a little . Thos that grow tend
 to be ung ,urban , male led , secondary edu necessary | .01 grow > 10 peo |
 .5 of large entities started as 1 mikro , WW | lots of manpower : hire teams
 . | HoratioAnger awards founder : D&B show 4%5 fail here | He countering '
 Only in Amerika notion ' | Aud : Taxes : Mom & Pop ops call NY sales tax '
 Profit Margin ' | Have found Mkt stall tax , French Paton - regressive tax
 as % sales | SieraLeon : 4 big inefficient textile factorys : got machines
 duty free ; individual : sewing machines 1.5 lux houshold import tax |
 Banks ? untapped surprize : not surprizingly finance is constraint - comes
 form family & friends - formal mkt doesnt reach down . old style : gov 18
 step proceedure : MacNemara Wrld Bank | cost 4000 $ to make $500 loan : dont
 mak up on vol | new style : mainly need short term working - need fast , can
 do @ higher than mkt rates ; instead of colateral - character based lending
 , motivate repayment & get admin cost dn | repayment rates .99 | 1 page form
 - savings mobilization - need savings mechaisms | even private : BankoSol
 Bolivia , Bangledesh - loans to group | BRI Indonesia | Un tapped mkt
 opportunity | expect growth |20:48| ?s | Smart institutions dont touch new
 ventures | At what size do govts start to crush ? depends on where |
 | when Bank require sit on board ? ? | do not include professional thieves
 | in SA townships all enterprize was illegal . had Spazashops ( zulu for
 comoflage ) : grocery bodegas | Any region where ~ working ? no - even in
 Jamaica under Mannely - have not done former Soviets | implications for US ?
 Character based lending : Jeffery? Working Cap co in NewEngland , Chic
 S.Shore Bank , Harlem . showing mixed results | supply led activity |
 Cato report : welfare people dbld income on black mkt | Relentless onslaught
 of regs & retaliatory claims | .15 is est of # enterprize ' off record ' ~
 including drugs |
Roy & Nigel Innes here , called forward | Potential for busn in Harlem as Chm
 Harlem CORE . Farmacies good crop w need for cap - lots of paperwork | VN to
 Roy : common characteristics ? too sharp dressers ?able | VN in light pants
 w 0 belt . Core so broke has to fake | Gov Regs serious inhibitors | Aud :
 Soln : giv all to govt - they giv bak what u deserv | Minimum wage
 destructive . Unions ~ affectd | Ok to give 0 , but if giv anything in
 trouble | Armey & Newt HR 1932 - urban homestead flex min wage - vs Blk Cauc
 ' civil rights restoration bill ' | learnd hard way | Blak ~ monolithik
 Older Carib - Latins good | give Rngle lesson in econ ? been trying for %4
 century . does no better | couldnt get cpy of 'restoration' act form anyone
 | cell foen range ' wrong wife ' - is secretary .
|21:12| w hit low wage south | Aud :Increase in efficiency : due to family
 motivation | I iterjected : 2 minds square root of 2 better than 1 . N minds
  N * %2 better than 1 | 1 2 3 4 * % 2 |>| 1 1.41 1.73 2
 Hernando DeSoto stdy in Puru : counter to marxist - expand blak mkt ? heavy
 regs - took him 287 days w Lawyer to start legal busn | elswhere ~ as bad &
 ~ enforced | VN -> Roy : govt disinsentives ? multi pronged asault on poor w
 welfare requirement of destruction of family , constant claim of victimhood
 . DougWilder Gov of VI , cradle of Confed , .18 pop , .13 of voters , but
 gov saying need to be failure to get govt help | Mike Walace : love fest w
 KingLouis | I : GilNobel Show Fantastic J.Hopkins Neurosurgery guy [
 SUN.MAR,960317,12:35| LikeItIs : DrBenjaminCarson Head Pediactric
  NeuroSurgery JohnsHopkins | Hypothermic arrest extended surgery ] | Innes :
 TomSoule , WalterWilliams | how much free cover would media give him Speek @
 armory | anti-achievment peer preasure ; I : universal | RI : Came form
 Island @ 13 , big country boy | Aud : BillCosbey @ HowardU on CSPAN
 last wk | Blaks have conservative profiel on issues , but vote against .
  take Ragan vs Jackson views w/o labels : Ragan ideas win . Amer Enterprize
  Inst poll replicated by NY Times , CBS - went to Rangels for comment .
 Conservatives ~ let into Black Caucus |21:35| Train Accelerating ? need food
 imports | |21:39| Destiny Mag ? great but broek . no network of conservative
 support . | FrankWilliams x ambasidor to Gahna ? ok , Johnson Republican
 said in Ebony : RoyInnes Nixon`s only black supporter | why ? need for
 acceptance | NewAmsterdamNews & WLIB most racist stn in Amer ; publishers
 wife Jewish w numbers on her arm | Economist Rudy ex Baruch : RogerBremer
 from Fed Board in `70s : only 1 of 35 in attendence black |21:44|
John : Fndn for FreEnterprize for HiSchool students : col level econ course |

 Speaker Bio : \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/ \/

Mr. Carl Liedhom, who is a Professor of Economics at Michigan State
University, will speak on the topic:
"Microenterprises in Developing Countries." The Wall Street Journal
recently characterized microenterprises as the as "the hottest thing in
development since the Green Revolution." Yet such enterprises typically elude
the "official" statistical nets and thus, until recently, have tended to be
overlooked. The talk will illuminate the key findings from the surveys of
micro and small enterprises that Liedholm has personally conducted - knocking
on doors of houses and enterprises located in some of the most remote areas
of developing countries - for the past thirty years.  These studies, which
have now been completed in over twenty five countries in Africa, Latin
America, and Asia, have sought to shed light on these important, but
typically invisible, contributors to the development process,

Having grown up in California, Liedholm attended Pomona College as an
undergraduate. He then moved to America's heartland for graduate study and
received his Ph.D. in economics from the University of Michigan in 1965. He
served as Director of the Economic Development Institute at the University of
Nigeria from 1965 - 1967 and as Chairman of the Economics Department at
Michigan State University front 1969 until 1974, Subsequent professorial
duties in the "Dismal Science" at Michigan State University have been
supplemented by various oddments, including holding visiting fellow positions
at Yale, Oxford, Sussex, and the University of Amsterdam, receiving the State
of Michigan Teaching Excellence Award, testifying before the U S, House of
Representatives, and serving on Research Advisory Committee of the U,S, State
Departriient. Even more far afield oddments have included garnering medals as
a "Masters sprinter?" in the Millrose Games and Penn Relays in the 1980's and
studying the cello with Pablo Carals a long time ago.

| DDT |>| FRI.MAY,960503,2:30

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