4 ms·

microfinancing (aka payday loans) in some countries is considered the most aggressive for-profit ripoff business you could run. How is that related to charity a

microfinancing (aka payday loans) in some countries is considered the most aggressive for-profit ripoff business you could run. How is that related to charity and aid?

unmole 4y ago
> microfinancing (aka payday loans) Microcredit is extended to poor entrepreneurs who invest it in income generating activities. That is very different from payday loans for consumption.
- richbell 4y ago
  It can be equivalent, in practice. https://www.bloomberg.com/graphics/2022-microfinance-banks-profit-off-developing-world/ https://www.bloomberg.com/graphics/2022-microfinance-banks-p...
- AlbertCory 4y ago
  You're right that they're not the same. However, watch the video or read the book. Reality is not the same as the concept.
AlbertCory 4y ago
> How is that related to charity and aid? "considered" by whom? It's been featured on 60 Minutes. Muhammad Yunus won a Nobel for it: https://www.nobelprize.org/prizes/peace/2006/yunus/biographical/ https://www.nobelprize.org/prizes/peace/2006/yunus/biographi... And it's eligible for IRS charity treatment in the US. You are seriously misinformed. microfinancing is NOT also known as payday loans.