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Micro-finance: a critique


  • Walter E. Block


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.

Suggested Citation

  • Walter E. Block, 2012. "Micro-finance: a critique," Humanomics: The International Journal of Systems and Ethics, Emerald Group Publishing, vol. 28(2), pages 92-117, May.
  • Handle: RePEc:eme:humpps:v:28:y:2012:i:2:p:92-117

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    References listed on IDEAS

    1. Raj, Madhusudan, 2008. "Mending the Meltdown: Fending off the Interventions and Resurrecting the Market," MPRA Paper 15693, University Library of Munich, Germany.
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