Since its emergence in the 1970s, microfinance has risen to
become one of the most high-profile policies to address poverty and
under-development in developing and transition countries. It is
beloved of rock stars, royalty, movie stars, high-profile
politicians and "trouble-shooting" economists. Its most famous
pioneer, Muhammad Yunus, was awarded the Nobel Peace Prize in
2006.
In this provocative and controversial analysis, Milford Bateman
reveals that microfinance doesn't actually work. That, in fact, the
case for it has largely been built on a desire to advance a
particular free market ideology, on hype and egregious half-truths,
and -- latterly -- on the Wall Street-style greed, deception and
individual self-interest of those promoting and working in
microfinance. Using a multitude of case studies from across the
globe -- from India to Cambodia, Bolivia to Uganda, Serbia to
Mexico amongst many others -- he exposes why many of its most
fundamental building blocks are largely myths. In doing so, he
demonstrates that microfinance actually constitutes a major barrier
to sustainable economic and social development, and thus also to
sustainable poverty reduction.
As developing and transition countries attempt to repair the
devastation wrought by the global financial crisis, Bateman argues
forcefully that the role of microfinance in development policy
needs to be urgently and fundamentally reconsidered.
General
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!