Microfinance, American style: Part 2, the good
By: David A. Smith
[Continued from yesterday's Part 1.]
Yesterday’s post opened the topic of payday lending as exploitive microfinance, designed not to maximize the borrower’s well-being but rather to hold that borrower on the razor’s edge of permanent default, as illustrated by this article from the Washington Post:
Meanwhile, big companies are muscling into a sector that [...]
