Online from: 1989
Subject Area: Economics
Options: To add Favourites and Table of Contents Alerts please take a Emerald profile
|Title:||Micro-finance: a critique|
|Author(s):||Walter E. Block, (Joseph A. Butt, S.J. College of Business, Loyola University New Orleans, New Orleans, Louisiana, USA)|
|Citation:||Walter E. Block, (2012) "Micro-finance: a critique", Humanomics, Vol. 28 Iss: 2, pp.92 - 117|
|Keywords:||Entrepreneurship, Fraud, Free enterprise, Micro-finance, Socialism|
|Article type:||Conceptual paper|
|DOI:||10.1108/08288661211228870 (Permanent URL)|
|Publisher:||Emerald Group Publishing Limited|
|Acknowledgements:||JEL classification – D14, G2, R51. The author wishes to acknowledge a debt of gratitude to Bill Barnett for the intensive discussions about the matters he was kind enough to undertake with him; he and the author agree about very little in this essay, yet the author could not have written it without his input. The author also thanks Scott Kjar and Roger White for important insights on these matters. As well, the author is grateful to John Levendis, Wing Fok, Stuart Wood, Devin Snead, Robert Swanton, Diego Rios and Reid Martin for inspiring him to write about this matter.|
Purpose – The purpose of this paper is to shed critical light on micro-finance.
Design/methodology/approach – This scheme is managed from an economic perspective.
Findings – Micro-finance comes to us as a left wing attack on the free enterprise system; as such, it ought to be opposed by all freedom lovers, at least in its present format. Other baggage weighing it down is, if not absolute fraud, then, what might well be considered at least serious chicanery. A further criticism is the cult-like behavior now surrounding it. However, is micro-finance
Practical implications – It would be unwise to invest in or support this scheme.
Social implications – Society should instead rely upon free enterprise banking, the occupy movement to the contrary notwithstanding.
Originality/value – It takes a minority position on this very popular institution.
To purchase this item please login or register.
Complete and print this form to request this document from your librarian