easy · Enhanced ACT reading
Micro-passage: Micro-finance was initially greeted as a panacea for global poverty. By providing small loans to entrepreneurs in developing nations, it promised to spark a grassroots economic revolution. However, recent studies suggest that while these loans help manage daily expenses, they rarely facilitate the kind of significant growth required to escape poverty permanently.
The author's attitude toward micro-finance is best characterized as:
- Indifferent, treating the subject as a minor economic fluke.
- Optimistic about the next generation of grassroots lending.
- Disappointed that the initial promise has not been realized.
- Aggressively critical of the motivations of loan providers.
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