Yunus vs Bishop: Thrust, Parry & Riposte

> Posted by Center Staff
The thrust:
Sacrificing Microcredit for Megaprofits,” Dr. Muhammad Yunus’ piece on the opinion pages of the The New York Times on Friday, January 14th. The Nobel Prize winner makes his point: “I never imagined that one day microcredit would give rise to its own breed of loan sharks.”
The parry:
Muhammad Cronus?,” Matthew Bishop’s next-day response on the blog Philanthrocapitalism.  The US business editor and New York bureau chief of The Economist counters: “[T]he idea that leading commercial microlenders like SKS and Compartamos are loan sharks is outrageous.”
The riposte:
“If Mr Yunus has his way,” Bishop writes, “[the] supply of growth capital will be choked off and hundreds of millions of people will be left waiting for financial inclusion.”