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Why Doesn't Microfinance Work?: The Destructive Rise of Local Neoliberalism
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Why Doesn't Microfinance Work?: The Destructive Rise of Local Neoliberalism

3.69  ·  Rating details ·  42 ratings  ·  6 reviews
Since its emergence in the 1970s, microfinance has risen to become one of the most high-profile policies to address poverty and under-development in developing and transition countries. It is beloved of rock stars, royalty, movie stars, high-profile politicians and "trouble-shooting" economists. Its most famous pioneer, Muhammad Yunus, was awarded the Nobel Peace Prize in ...more
Paperback, 272 pages
Published June 10th 2010 by Zed Books (first published 2010)
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Tanja Berg
Apr 24, 2017 rated it really liked it
Shelves: business, non-fiction
I was reading "Listen, Liberal" by Thomas Frank when I came across a reference to this book and the fallacy of the great tool to reduce poverty called "microfinance". I was stunned. I had seen Muhammad Yunnus and Grameen Bank receive the Nobel Peace Prize for reduction of poverty in Bangladesh with microfinance. I got the book. Turns out it's all a lie. The original model as proposed byMuhammad Yunnus no longer exists. It has been replaced by for-profit micro fincance institutions who have ...more
Natalie Saunders
Feb 17, 2017 rated it liked it
Interesting read however I feel that his argument lacks a lot of substance. His arguments and work appears to be rather repetitive and does not provide the depth. The book could either have greater insight or alternatively be shorter and more to the point. There are with no doubts issues within the MF sector and ways which it can be implemented more effectively. He promotes CCT in his writing as an alternative but these too have issues within itself which he does not identify in his writing...
Anna C
Jun 12, 2015 rated it liked it
The thesis is interesting... I just wish it was possible to actually read this book. It never uses one word when six will do, never uses a period if there's an opportunity for a semicolon.
Chim Guanghui
Jul 22, 2017 rated it really liked it  ·  review of another edition
The reading of this book has turned on its head what I have been made to believe about the virtues of microfinance, with real evidence being heard and seen on the ground here in Cambodia. The case against microfinance was made so convincingly with recounts of the key myths and their debunking and comparative study with alternative models adopted in post-war Japan, South Korea, Taiwan and more recently in China and Vietnam.
Reinoud Bekendam
Aug 25, 2019 rated it liked it
The points brought forward about the development and current state of microfinance are backed by thorough research. It changed my view on the industry.
However, the author sometimes cuts corners, puts too much emotion in his writing for a book like this and does not give equal weight to the other side’s points. Furthermore, the book could be halved, as passages are repeated and easily fewer words could have been used.
Silvia
Apr 21, 2013 rated it it was ok
Slightly repetitive but interesting
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