Portfolios of the poor: How the World's Poor Live on $2 a Day
Over 2.7 billion people in the world live on $2 or less a day. The positive role of microfinance services to alleviate poverty is regularly weakened by certain institutions that are mainly driven by commercial objectives and seem to pay little attention to their social function.
The groundbreaking book Portfolios of the Poor: How the World's Poor Live on $2 a Day examines the cash flow of almost 300 households among the poorest of the world. The result is a humanising insight into the economic lives of the global poor, and a valuable resource for attempting to improve those lives, especially through microfinance institutions.
Jonathan Morduch, co-author of the book, is Professor of Public Policy and Economics at the NYU Wagner Graduate School of Public Service and Managing Director of the Financial Access Initiative. His research centres on microfinance, social investment, and the economics of poverty. Jonathan Morduch was the keynote speaker at the fourth Microfinance Lunch Break, organised by ADA, BRS, Cera, KBC on February 21 in Brussels.
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