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Is Microfinance the Essence of Development?
When is an interest rate too high? When is microcredit use-free? When is it coercing people rather than empowering them? So, there's a discussion in the book about that. And I come away feeling much more confident that microsavings is going to be empowering the microcredit because of the obvious risks of getting people into too much depth. The third and last conception is development as industrial transformation. This is associated most with Joseph Schumpeter who coined the term creative destruction.