Microfinance and Dominant Capital

Microfinance and Dominant Capital

Beitragvon faelanstevie » Mi 7. Mär 2018, 08:58


Harford cites a growing rift between 'traditionalists' who want microfinance to be stricty philanthropic, those who want microfinance institutions ran like the large banks they set out to replace in the 1970s, and the majority of people in between 'eager to gain access to capital and commerical expertise, but concerned that competitive market forces may not help the poorest'.

I think this piece is quite telling as it really exposes some of the limits to the microfinance movement. In particular, I found interesting the automatic assertion that continued reliance on philanthropic donations, without access to 'capital', will render the whole movement inefficient (that is, by the standards of capitalist banking). The microfinance movement is essentially being told to commericalize (read capitalize) or die, which is not really a choice at all since capitalization is supposed to go against the very principles on which these institutions were originally founded.

I'd be interested to hear others' thoughts on this issue - as I said this is the first time I've read anything remotely interesting and remotely critical on microfinance. Does anyone know if there's political economy work being done in this area?

Please help

I didn't find the right solution from the internet.

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