NEW We Are Not Able to Live in the Sky: The Seductive Promise of Microfinance

NEW We Are Not Able to Live in the Sky: The Seductive Promise of Microfinance by Mara Kardas-Nelson Uncorrected Proof Advanced Reader's Edition Paperback Book - New - Paperback - Uncorrected proof / advanced reader's edition - Description: A deeply reported work of journalism that explores the promises & perils of microfinance, told through the eyes of international lenders & women borrowers in West Africa. In the mid-70s, Muhammad Yunus, an American trained Bangladeshi economist, met a poor female stool maker who needed money to expand her business. In an act widely known as the beginning of microfinance, Yunus lent $27 to forty-two women, hoping small credit would help the women pull themselves out of poverty. Soon, Yunus’s Grameen Bank was born & the idea of giving very small, high-interest loans to poor people took off. In 2006, Yunus & the Grameen Bank won the Nobel Peace Prize for efforts to create economic & social development from below. But there’s a problem with this story. There are mounting concerns that these small loans are as likely to bury poor people in debt as they are to pull them from poverty, with borrowers from India to Kenya facing consequences such as jail time & forced land sales. What happened? Did microfinance take a wrong turn, or was it flawed from the beginning? Smoke free Same day or next business day shipping New to Poshmark? Use my invite code when you sign up for $10 towards your first purchase: SHOPOFFBEAT