Thursday, September 27, 2007

Good Article

You have $1. Where to spend it? - By Daniel Akst - Slate Magazine
You have $1. How should you spend it to do the most good?

"it seems to me that the best way to spend a little money helping the
world's poorest citizens is not to spend the money at all, but to lend
it. A variety of nonprofit (read: tax-deductible) organizations, such
as Acción International, make small loans—perhaps $100—to individuals
in Third World countries who use the money to start or expand tiny,
often home-based businesses. This has all kinds of virtues: It's
cost-effective, puts small sums to good use, has none of the potential
for harm that comes with giant hydroelectric projects and the like, and
promotes the only real solution to global poverty, which is economic
development. Measuring results is easy: If you get repaid, it's
working. Then you can turn around and do it all over again."


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