The Magic of Money and the Magic of the State: Fast Money Schemes in Papua New Guinea

Abstract

As Keith Hart (1986)

From ‘Stone-Age’ to ‘Real-Time’: Exploring Papuan Temporalities, Mobilities and Religiosities – An Introduction

“…Political authority is increasingly dependent on bureaucratic knowhow, networks that include Indonesians, and educational qualifications that confer status. As Melanesians engage with contemporary practices and ideologies of capitalism and neoliberal development (Jacka 2007;Cox 2013;Bainton and Cox 2009), a formulation Robert Foster (1999: 143; see also Lash and Urry 1994) refers to as 'hypermodernity', in this volume we shed light on Papuans' affective experiences with notions and practices of Indonesian modernity, such as kemajuan (progress) and pembangunan (development), as well as globalised capital. In fact, Papuans are not alone in their positioning on the 'fringes' of Indonesian modernity, as other frontier inhabitants have also been the subject of spatio-temporal degradation (Li 2001;Tsing 2005).…”

Transforming communicative spaces: the rhythm of gender in meetings in rural Solomon Islands

“…These may include small sideline businesses such as selling betel nut, opening trade stores or sewing clothes, which we discuss below. They also SSGM Discussion Paper 2015/2 involve a variety of ways of juggling money that encompass 'payday lenders' , investing in 'fast money schemes' (Cox 2011(Cox , 2013(Cox , 2014c, or attempting to supplement their income by joining pyramid selling schemes (cf. Krige 2011).…”

“…It is this accessibility that makes them appear more sympathetic to the plight of the common person than the commercial banks, and which gives these schemes an air of moral authority (Cox 2011(Cox , 2013. They reflect enough formality to be perceived as legitimate but enough informality that they remain accessible.…”

“…Australian pyramid scams operated there during the colonial era (Stent 1977), but in more recent times a much larger rush of fast money schemes has swept through Port Moresby, the other urban centres, and out into rural areas. These scams, such as U-Vistract and its sister scheme Money Rain, promised their investors ludicrously high returns on their 'investments' (typically 100 per cent per month) and often spread through church networks, especially the large Pentecostal congregations of Port Moresby (Bainton and Cox 2009;Cox 2011Cox , 2013Cox , 2014cCox and Macintyre 2014). Hundreds of millions of kina were lost, largely by the working class, many of whom withdrew their 'rainy day money' (typically PGK1000-3000) from their bank accounts or the wads of cash hidden around the house.…”

Sorcery, Christianity and the Decline of Medical Services

“…However, we have our own experiences of Melanesian hospitals and the people who work in them, particularly doctors, whom Phillips has had particularly privileged access to as a senior colleague. Like Street, Cox is an anthropologist who has done fieldwork in Madang for his study of middle-class investors in 'fast money schemes' in PNG (Cox 2011(Cox , 2013Cox and Macintyre 2014). Phillips is an emergency physician who since 2006 has worked closely with Papua New Guinean and Solomon Islander doctors completing their training in emergency medicine through the University of Papua New Guinea.…”