Microfinance: an Economic Analysis of Banking to the Poor

Great strides are being made in technology, medicine, and other fields, but with these advances, many people are still being left behind in poverty.The poor struggle to feed their families, work long hours for little pay, and face obstacles in educating themselves and their children. They see no end to the nightmareand they feel trapped.World leaders have responded by offering a handout rather than a hand up, which does nothing to fix the problem. In this book, youll learn why: Foreign aid to developing countries weakens democratic institutions and empowers leaders to make bad policy decisions. Small businesses serve an important role in strengthening economies in developing countries. Small business owners opt out of legal environments and choose to operate in informal sectors. Microfinance institutions offer the poor greater flexibility and opportunity than larger financial institutions.When helping the poor, the goal does not need to be unanimous economic equality, but we must provide opportunities to escape the clutches of poverty. Find out how it can be done, step by step, with Microfinance.