The Microfinance Delusion
Marred by Wall Street-Style Greed, Profiteering, Client Abuse, and Market Chaos

Bateman, Milford
Date Written:  2012-03-13
Publisher:  CounterPunch
Year Published:  2012
Resource Type:  Article
Cx Number:  CX14191

By celebrating self-help and individual entrepreneurship, and by implicitly discrediting all forms of collective effort, such as trade unions, social movements, cooperatives, public spending, a pro-poor ‘developmental state’ and – most of all – collective moves to ensure a more equitable redistribution of wealth and power, microfinance fits in well with the ideology of neoliberal policy-makers.

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