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SOCnationalsPaper - Jaclyn Osterstock This reading was...

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Jaclyn Osterstock April 16, 2008 This reading was about how small loans to people in poverty are empowering women and transforming local economies around the world. A common problem in our times is the growing divide between the rich and poor. This situation often seems hopeless and that we will be forever in debt to others and stuck in a poverty rut. This article describes and discusses a movement actively at work being a significant countervailing force around the world trying to overcome poverty and transform local economies toward justice. All over the world, this movement is changing people’s lives step by step, slowly shining a light on a way out of the poverty rut so many families and communities have fallen into. This movement is an effort also known as “microfinance,” “micro-lending,” and “microcredit.” Support comes from individuals, banks, religions, organizations and other nonprofits, foundations, governments, and the World Bank. The people who benefit from this are called “micro-entrepreneurs.”
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