Microfinance: Fortune at or also for the bottom of the pyramid?

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Keywords:
Sustainability, Microfinance

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Jon Jachimowicz

Abstract

As globalization increasingly becomes recognized as a major driver of an increasing gap between rich and poor (Soros, 2002); scholars and policy makers alike have responded to the pressure to create a more inclusive system of capitalism that better responds to the needs of the poor (Hart & London, 2005) in part by proposing an increased role of commercial businesses. This paper outlines the positives and negatives of microfinance, concluding that it is no panacea for poverty alleviation.

Article Details

Issue
Vol. 1 No. 1 (2013)
Section
Essays

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Author Biography

Jon Jachimowicz

4th Year, Management and Psychology