Thanks to the friends who know my pile of New Yorker magazines is taller than my son. They know that the chances I've read an article in the October 30 2006 issue are slim to none and so drew my attention to last week's article on microfinance and Muhammad Yunus.
So here's the question: Where is the proof? Does microfinance actually get people out of poverty or does it just make them less poor?
Since microcredit and microfinance has become the 20-years-in-the-making-overnight-sensation of American philanthropists it is sure to attract 100s of millions (perhaps even billions) of USD in philanthropic investment. But there's plenty of time for a track record - where's the proof that it works?