THE CREDIT REVOLUTION: An institutional and historical glance at microcredit as a culmination in economic theory

Abstract

Microcredit is one of the newest and most alluring topics in the world o economy development theory and alleviation, however its results are mixed, proving to offer less benefits that proponents promised, but not being as catastrophic as opponents promised. In understanding the institutional internal structure of microcredit and its place within a historical context, on-lookers can identify both how micro credit theoretically accomplishes it goals of absolute poverty alleviation, and its place among development theory to narrow the scope of ignorance we are operating from.