How Microfinance Failed the World's Poor
Microfinance was once hailed as a miracle cure for global poverty, promising to empower the world's most vulnerable with small business loans. But in countries like Cambodia, the industry has devolved into a cycle of predatory debt that is leaving families struggling. WSJ’s Gabriele Steinhauser explains why this once-celebrated solution has failed so many. Jessica Mendoza hosts.
Further Listening:
- Why Sweden Embraced Capitalism
- Is Jane Goodall Fighting a Losing Battle?
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Microfinance was once hailed as a miracle cure for global poverty, promising to empower the world's most vulnerable with small business loans. But in countries like Cambodia, the industry has devolved into a cycle of predatory debt that is leaving families struggling. WSJ’s Gabriele Steinhauser explains why this once-celebrated solution has failed so many. Jessica Mendoza hosts.
Further Listening:
- Why Sweden Embraced Capitalism
- Is Jane Goodall Fighting a Losing Battle?
Sign up for WSJ’s free What’s News newsletter.
Learn more about your ad choices. Visit megaphone.fm/adchoices
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