Crash course time, readers: microfinance.It’s granting tiny loans to people in poverty. These loans are almost always repaid and the idea is that they make entrepreneurs out of people living hand-to-mouth. It’s like a smallish trampoline made of money that allows you to safely walk the tightrope of poverty (see illustration).It’s been all the rage ever since Muhammad Yunus won the Nobel Peace Prize for his Grameen Bank in Bangladesh.Microfinance institutions have exploded across the developing world. Kiva’s one of them. In this video Nicholas Kristof goes to Kabul to visit his “business partner,” a baker he probably gave $50 to through Kiva, and demands interest in the form of delicious bread. Kiva’s a success story and its growth has been impressive.But microfinance might be getting ahead of itself. There are four microfinance lenders under investigation in Uganda alone. A new Harvard Business Review piece argues it’s time for more scrutiny.Harvard Business Review: buzz-kill or voice of reason?We got the tip from Philanthropy 2173.Graphic from ybpguide.com.
Tags
advertisement
More for You
-
14 images of badass women who destroyed stereotypes and inspired future generations
These trailblazers redefined what a woman could be.
Throughout history, women have stood up and fought to break down barriers imposed on them from stereotypes and societal expectations. The trailblazers in these photos made history and redefined what a woman could be. In doing so, they paved the way for future generations to stand up and continue to fight for equality.
-
Why mass shootings spawn conspiracy theories
Mass shootings and conspiracy theories have a long history.
While conspiracy theories are not limited to any topic, there is one type of event that seems particularly likely to spark them: mass shootings, typically defined as attacks in which a shooter kills at least four other people.
When one person kills many others in a single incident, particularly when it seems random, people naturally seek out answers for why the tragedy happened. After all, if a mass shooting is random, anyone can be a target.
Pointing to some nefarious plan by a powerful group – such as the government – can be more comforting than the idea that the attack was the result of a disturbed or mentally ill individual who obtained a firearm legally.
advertisement

