13 July 2008

Micro-credit & the Poverty Industry

This article is from the WSJ and despite being 2 weeks old is worth your interest. Micro-credit is a phenomenon I've addressed before, and as a means of helping people leave poverty it has been extremely successful.

In Mexico its success has been threatening to some non-profits who business lives and dies on the continuance of poverty. Surely some charities would like nothing better than to close up for lack of need. Others feel threatened by models that render them obsolete.

This is a great example of the private sector filling a void and making it viable economically, independent of taking anyone's money but private investors. That is as it should be.

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