Posts Tagged ‘Bill and Melinda Gates Foundation’

Corporate feminism and the cult of micro-lending

March 1, 2016

Thomas Frank, with his usual incisiveness, explains in the current issue of Harpers why so many rich liberals such as Hillary Clinton and Melinda Gates endorse micro-lending.

It is a way of identifying the interests of American women who aspire to be corporate executives or partners in law firms with Third World women basket-makers and market-place vendors.

Merely by providing impoverished individuals with a tiny loan of fifty or a hundred dollars, it was thought, you could put them on the road to entrepreneurial self-sufficiency, you could make entire countries prosper, you could bring about economic development itself.

What was most attractive about micro­-lending was what it was not, what it made unnecessary: any sort of collective action by poor people coming together in governments or unions.

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