Microfinance Creating Credit Bubble in Places in India?
The WSJ has a very important (and certain to be much debated) story today on the front page, "A Global Surge in Tiny Loans Spurs Credit Bubble in a Slum," WSJ, A1, Thursday August 13, 2009. Also see the follow on stories, "Group borrowing leads to pressure," which is about the problem that when you use 'peer pressure' rather than...