Ideas to Action:

Independent research for global prosperity


David Roodman's Microfinance Open Book Blog


According to readers of the Kindle edition:

"The success of micro-finance is real, if subtler than generally understood. Its strength lies not in lifting people out of poverty---industrialization and jobs do that better. Nor does its strength necessarily lie in empowering women. It lies, rather, in leveraging modest subsidies to build financial institutions and industries that give millions of poor families more control over their finances."

Highlighted by 12 Kindle users

"Instead of using it to put capital in the hands of as many poor people as possible on the hope of launching them all into entrepreneurship and out of poverty, focus on mass-producing services to help people manage the uncertainties of being poor."

Highlighted by 11 Kindle users

"what most distinguished people living above or below $2 a day was not education, health, or even wealth, but a steady job."

Highlighted by 11 Kindle users

"Microenterprise helps people survive poverty more than escape it. Next to the poverty-reducing power of industrialization, microfinance is a palliative."

Highlighted by 11 Kindle users

'Thus financial services are like clean water, sanitation, and electricity: they generally do not lift people out of poverty, but they improve life."

Highlighted by 10 Kindle users

"Worldwide in 2010, $325 billion was remitted to developing countries, about three times the foreign aid from industrial democracies."

Highlighted by 9 Kindle users

"Second, the demands of the poor often can be met on a large scale only with limited and low-quality services."

Highlighted by 7 Kindle users

"Just as more drugs exist for male impotence than for malaria, the financial services available to the rich outshine those for the poor in quality, diversity, and cost."

Highlighted by 7 Kindle users

"Fundamentally, the kind of economic transformation that ends poverty involves combining labor and capital in ways that do not happen within poor households."

Highlighted by 7 Kindle users

"What clients really do with the credit, elusive under the best of circumstances, falls further below the radar."

Highlighted by 6 Kindle users

By the way, I recently compared reading the Google and Kindle editions of Francis Fukuyama's Origins of Political Order on my phone and PC. (You don't need a Kindle to read the Kindle edition). I much prefer Kindle precisely because of my desire to interact with the text. (I've got a poor memory.) Unlike Google, the Kindle app allows me to highlight and make notes on my phone, and the PC version lets me do that even when the computer is offline, as when travelling.

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CGD blog posts reflect the views of the authors, drawing on prior research and experience in their areas of expertise. CGD is a nonpartisan, independent organization and does not take institutional positions.