It’s interesting that the theme of your paper is hope, & yet your conclusions leave very little hope. For your next steps, I’d suggest that you take a close look at the recent World Bank study showing that poverty has in fact declined dramatically in all parts of the world. How has this happened? What are the factors that contributed to it? If you’re suggesting that micro finance is not the way ahead, then what is?

I have pondered this question for weeks! After hours and hours of research on the World Bank’s webpage and deliberating, I keep coming back to two viable options. I am arguing that micro finance should not be the huge fad or the ‘be all to end all’ in economic advancement for those trying to lift themselves out of despair.  I believe that with institutional economic development and sound education there can be a multitude of programs and opportunities offered by and for individual countries. The ‘cookie cutter’ programs that are so often seen today need to be removed and replaced with culturally sensitive and relevant programs.

New questions I am answering to myself…

What is economic development?

What does sound education mean?

Has poverty decreased?


  • Dichter, T. W. (2003). Despite Good Intentions: Why Development Assistance to the Third World Has Failed. Boston: University of Massachusetts Press.
  • Radelet, Steve. “We live in the golden age of development.” SIT Graduate Institute, Guest Lecturer. Washington, DC. 15 Oct. 2011.