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M - Alphabetical Listing of Selected Important Terms and Concepts in Sustainable Development



Microcredit
A “method of alternative banking that gives loans to people (specifically ones) who are below the poverty line - without collateral. It enables extremely impoverished people to engage in self-employment projects that allow them to generate an income and, in many cases, begin to build wealth and exit poverty”

SOURCE:
(2007). Microcredit [online]. Experience Bangladesh. Available from: http://www.experiencebangladesh.com/industries/Microcredit.shtml [Re-accessed: 07 March 2008].



Monetised Society
“Monetization is the process of converting or establishing something into legal tender. It usually refers to the printing of banknotes by central banks, but things such as gold, silver and diamonds can also be monetized. Even intrinsically worthless items can be made into money, as long as they are difficult to make or acquire. Monetization may also refer to exchanging securities for currency, selling a possession, charging for something that used to be free or making money on a goods and services that were previously unprofitable.”

SOURCE:
(2008). Monetization [online]. Wikipedia. Available from: http://en.wikipedia.org/wiki/Monetize [Re-accessed: 07 March 2008].

A “Monetised Society” is one in which some sort of formal legal tender or currency (i.e. "money") is required in order to access or acquire the daily necessities of life (i.e. water, food, shelter and clothing). In these societies, a person without access to the local form of legal tender or currency (i.e. money) will generally find it difficult to function in the daily life of the society or even find it difficult to survive.

SOURCE:
Esakin, Thomas C. (2008). Important Terms, Concepts and International Agreements in Sustainable Development. Citation of unpublished document.