This link has been bookmarked by 28 people . It was first bookmarked on 11 Mar 2008, by KO -.
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microfinance—involves making small loans to poor entrepreneurs, usually in developing countrie
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the microfinance pioneer Muhammad Yunus won the Nobel Peace Prize in 2006,
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ordinary Americans can now get in on the act, at sites like Kiva.org, where you can make a microloan yourself.
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investments in microfinance more than doubled between 2004 and 2006, to $4.4 billion, and the total volume of loans made has risen to $25 billion,
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There’s no doubt that microfinance does a tremendous amount of good,
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here are also real limits to what it can accomplish
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on their own, they often don’t do much to make poor countries richer.
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Microloans make poor borrowers better off
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It’s less common to find them used to fund major business expansions or to hire new employees.
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the loans can be very small—frequently as little as fifty or a hundred dollars—and generally come with very high interest rates
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most microbusinesses aren’t looking to take on more workers
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microfinance “rarely generates new jobs for others.”
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ust fourteen per cent of Americans, for instance, are running (or trying to run) their own business. That percentage is much higher in developing countries—in Peru, it’s almost forty per cent.
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What poor countries need most, then, is not more microbusinesses
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But the companies in between find it hard. It’s a phenomenon that has been dubbed the “missing middle.”
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Both socially and economically, microloans do a lot of good
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The cult of the entrepreneur that the microfinance boom has helped foster is understandably appealing
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hinking that everyone is, and should be, an entrepreneur leads us to underrate the virtues of larger businesses and of the income that a steady job can provide.
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21 Apr 08
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The U.N. declared 2005 the International Year of Microcredit, and the microfinance pioneer Muhammad Yunus won the Nobel Peace Prize in 2006, while celebrities like Natalie Portman and companies like Benetton have become fervent microloan advocates. Even ordinary Americans can now get in on the act, at sites like Kiva.org, where you can make a microloan yourself. (Right now, a clothing vender in Cambodia needs seven hundred dollars to “purchase more clothes to sell.”)
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03 Apr 08
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17 Mar 08
Nick TempleJames Surowiecki on microfinance and entrepreneurship
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16 Mar 08
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15 Mar 08
Arabica RobustaThe cult of the entrepreneur that the microfinance boom has helped foster is understandably appealing. But thinking that everyone is, and should be, an entrepreneur leads us to underrate the virtues of larger businesses and of[the income in]a steady job.
banking business economics economy entrepreneurship finance global international microcredit development yunis
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12 Mar 08
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11 Mar 08
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10 Mar 08
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