CGD Policy Blogs
A recent op-ed in the Boston Globe argues that microlending "doesn't actually do much to fight poverty" and that it may be time to "think macro rather than micro." Maybe the hype surrounding microcredit as a panacea for everything from poverty to discrimination is undeserved. But debunking the whole bottom-up, micro approach on the basis of two unpublished papers is not just premature, but dangerous. Macro, trickle-down development policies have rather effectively kept billions of people poor for decades.
Just over three weeks have passed since I first blogged on Kiva.
When I reviewed Dean Karlan and Jonathan Zinman's randomized study of the impacts of microcredit in Manila, I noted that the people in the study had household incomes averaging $15,000 and more education than the average American. Turns out that income figure is wrong.
I haven't blogged much in the last week because other things have occupied me. After helping my San Francisco sister celebrate a significant birthday of undisclosed number, I had a great visit to Kiva's headquarters (stay tuned). Over the weekend I taught dance for the first time (very satisfying, and under redwoods so awe-inspiring I can only call them sacred). I had a passing encounter with my family in DC.