Who doesn’t like making a few bucks from the poor? The poor are every bit as important to the economy as human suffering was to Mother Teresa and original sin is to Christianity. After all, if there were no cash-strapped masses, pawn shops, sub-prime lenders and entire brigades of charitable deed-doers would be out of business. Entire industries built upon serving the destitute would face bankruptcy.
Microfinancing for low-income entrepreneurs, once considered a brilliant move by social thinkers and economists, is now taking a hit for being too successful, says the Wall Street Journal. What, there aren’t enough poor folks to go around these days?