School of Social and Political Sciences - Theses

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    Deception and disillusionment: fast money schemes in Papua New Guinea
    Cox, John Charles Nicholas ( 2011)
    This thesis examines Papua New Guinean attitudes to money and modernity through an exploration of contemporary “fast money schemes” (Ponzi scams). The largest of these, U-Vistract Financial Systems, collected millions of Kina from 100,000s of “investors” on the promise of monthly returns on deposits of 100%. The scheme was declared bankrupt in 2000 but its founders escaped imprisonment, fleeing first to Solomon Islands and then to the “no go” zone of Bougainville, where the scheme re-established itself as the Royal Kingdom of Papala. U-Vistract claimed to be a Christian reform of global finance systems that would deliver abundant prosperity to Papua New Guineans. U-Vistract cultivated a moral vision of its middle-class investors as compassionate Christian patrons whose coming wealth would deliver “development” to a nation disillusioned with social inequality and the postcolonial state. U-Vistract investors emerge from this study as morally engaged members of a transnational Christian civil society. This is a surprising conclusion to draw from studying fraud but it is all the more surprising in Papua New Guinea where anthropological interest has historically constructed the “village” as the central place where social meanings are generated. Here, urban Melanesians demonstrate moral and relational sensibilities that combine global aspirations for prosperity with Papua New Guinean disillusionment with the nation. In doing so, perhaps a more individualistic rendering of Melanesia emerges but these are individuals who are also more cosmopolitan in sentiment.