Why Doesn't Microfinance Work?

Since its emergence in the 1970s, microfinance has risen to become one of the most high-profile policies to address poverty in developing and transition countries. It is beloved of rock stars, movie stars, royalty, high-profile politicians and ''troubleshooting'' economists.

In this provocative and controversial analysis, Milford Bateman reveals that microfinance doesn''t actually work. In fact, th...