Argentina. Social economy is growing.

The role of microcredit and the dynamism of self-employed businesses in Argentina are considerable.

Argentina. Social economy is growing.

From Ciudad Nueva Argentina - Published on on 17/11/2009

Social economy created 250 thousand jobs during the last few years in Argentina, an encouraging fact put into evidence by the country´s Minister of Social Development. A recent survey underlined the birth of nearly 100 thousand initiatives that have begun thanks to the cooperation between the State, private business and businesses linked to social economy.

Among such initiatives, it points out the importance of microcredit, which has reached higher possibilities in Argentina thanks to a law instituted by the National Commission for Microcredit, enabling the investment of more than 40 million Euro, as well as those by the Grameen Bank and other similar institutions. What launched the recent growth in this sector - signaled by Pope Benedict XVI in his encyclical Caritas in Veritate as one of the actors in globalized economy, was the 2001 crisis, when unemployment in Argentina reached unprecedented levels.

Among the phenomenon to note in the subject of social economy, other than cooperatives, non-profit and the economy of communion, is that of "recovered businesses". These are businesses that were abandoned by their owners or were failing, and are now run by their own workers. There are more than 100 of these, and they often have reached high levels of production and quality.

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