David Roodman recently reflected on Grameen Phone pioneer, Iqbal Quadir’s, TED talk and the implications for mobile technology—particularly mobile money—in the developing world.
“Connectivity helps people and firms work together when they are more than a stone’s throw apart—coordinate, bargain, contract. Better communication allows them to reorganize themselves step-by-step into more complex economic arrangements characterized by greater interdependence and specialization. And specialization brings productivity (think Adam Smith’s pin factory). I don’t think that’s all that connectivity does—it also transmits ideas and culture—but that’s a big piece of it.”