Boudreaux and Cowen argued (in their 2008 Wilson Quarterly article) against the prevailing enthusiasm by claiming microfinance's effects are small and that its most important function is not lending but enabling saving — a view that became conventional wisdom roughly three years later.
factualpending
Speaker
Michael MungerEvidence Quote
“first you're mistaken this is not that wonderful its effects are pretty small and seconds the most important effect is not loans it's saving you should think of microcredit organizations really as a way of helping people save when otherwise they couldn't”
Created: 6/17/2026, 10:29:24 AM
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