Studies Find Microfinance Does Not Reduce Poverty, Assets Do

ACORN ACORN International Canada Citizen Wealth Financial Justice International

Hamburg  Several years ago ACORN International did a research report that seemed heresy to many, but started from the simple proposition that since microfinance is debt, debt does not reduce poverty, therefore the value of microfinance was the same as buying a job through an employment agency: work at a steep price. For many the …

Continue Reading

Microfinance Company’s Own Investigation Proves SKS Provoked Suicides

ACORN International International

New Orleans    Working with ACORN International, Melanie Craxton from the University of Edinburgh and I produced a hard hitting report,  Mega Troubles for Microfinance, calling into question the claims that microfinance reduces poverty and the entire model of unsustainable practices, collection methods, and the resource bubble fueling their growth.   Sadly, a story written by the …

Continue Reading

Finding Friends on Microfinance, but Western Union Not so Much

Financial Justice International Remittances

Phoenix  Winning any kind of global financial justice for low-and-moderate income families is admittedly a slog, but misery loves company, and I cannot resist keeping you in the loop as ACORN International pushes forward on these campaigns. Good news first.  Our report, “Mega Troubles for Microfinance” www.acorninternational.org, picked up some friends in high places, which …

Continue Reading