W12 Microenterprise, global poverty and social development /SooBin Moon



Microenterprise, global poverty 

and social development


Summary)
     To reduce poverty, 'microenterprise' and 'microfinance' have become popular. These two terms look similar but have different meanings. 'Microenterprise' is a small and medium-sized enterprise owned and operated by the poor, run by many people and receive international aid. However, in some cases, it is supported by sponsors and in others it is not. Microfinance refers to providing small loans to poor people and groups without collateral at relatively low interest rates if they could be used as microcredit. Both have become more active and successful since the 1970s. 'Microenterprise' has expanded, and 'Microfinance' is considered an effective anti-poverty strategy. Several regional studies show that microfinance institutions have succeeded in setting up businesses in poor countries and have a high loan repayment rate, and are used to prove that these programs contribute to poverty reduction.


What's interesting, what's new?)
     I confirmed in this article that 'microenterprise' and 'microfinance' actually produced effective results in poverty eradication. But it was most memorable because it was regrettable that less than 5 percent of the world's poor population now has access to such programs.
 
     And it was surprising to say that the context of neo-liberalistic claims of entrepreneurship profit-seeking market liberal will itself solves the poverty problem. It was also refreshing to say that what Soto (1989) needs is to give up only state planning, regulation and government welfare programs.
 
     Based on this, I thought about what kind of programs should be conducted with sponsors such as "microenterprise" and "microfinance." I thought it would be better to proceed with the national planning initiative when there is a weak guarantee that 'microenterprise' and 'microfinance' are economically beneficial. However, it was thought that after the program's benefits were proven, it could be implemented in many regions more quickly as it progressed with profit-seeking private companies.
 
 
The part I want to discuss with others)
     Do you agree with the opinion that programs like 'microenterprise' and 'microfinance' actually help fight poverty? If you agree, do you think it is more effective to proceed with these programs as part of the state's economic growth? Or do entrepreneurs think it is more effective for these programs to go along with profit-seeking?
 

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