Abstract
Two basic types of story are commonly told about the origins of modern microfinance. One is the underhistoricized version, whereby Dr Muhammad Yunus (and/or a handful of other pioneers) “invented” or “discovered” it: “The modern microfinance movement began in Bangladesh in 1977, as an experiment by economics professor Muhammad Yunus … Over the next three decades, the model he established became widely accepted and replicated in other countries as a way to fight poverty. Microfinance spread around the world and earned Yunus a Nobel Prize in 2006” (Wharton Business School 2011). In this and similar tales, before the 1970s, microfinance has no meaningful history.
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© 2015 Philip Mader
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Mader, P. (2015). A Genealogy of Microfinance. In: The Political Economy of Microfinance. Studies in the Political Economy of Public Policy. Palgrave Macmillan, London. https://doi.org/10.1057/9781137364210_2
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DOI: https://doi.org/10.1057/9781137364210_2
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-57736-1
Online ISBN: 978-1-137-36421-0
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