Don't Blame Microcredit - Blame Its Distortion

Microloans work when very poor people are trying to get out of their situation – usually, studies show, in order to enter a proper labour market. The loan provides the means to improve one’s life, and its repayment the incentive. “If you want to encourage people to earn, encourage people to change their culture,” Mr. Yunus says, “you have to make the roadway for them to do that – remove the barrier.”

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