Thanks to NetGalley and the publisher for the arc of this book.
This is a tough one. I want to like this. A lot of research went into this book, and we need to know what happened here--how microcredit became microfinancing became loansharking . . .
But this was a rough read. My husband mentioned it sounded more like dissertation, and in a way that's true. It read like a jam-packed, abundantly endnoted dissertation with a few short personal stories crammed in for human interest, or to make it more "mainstream" attractive. But the chapters, although containing so much information, and so many notes, were dense reading. I feel the story could have been streamlined and focused and the personal stories more integrated and specifically linked to the narrative of the story of microcredit. Instead it felt disjointed and only tangentially related.
I do applaud the detailed research and the dedication to telling this important story. I just fear it will be difficult for mainstream readers.

Extensively reported, this is everything you ever needed to know about Micro financing and the dangers it has brought to developing countries under the guise of help. Kardas-Nelson presents the history of the concept from the 70's when peace prize winning Muhammad Yunus American-trained Bangladeshi economist, created the programming based on the concept of small loans. Small loans can create large debt however and Mara Kardas Nelson illustrates these facts with a series of stories of women based in Sierra Leone, West Africa. This is a non fiction story that reads like a thriller and has completely changed my thinking. Please give it a read!
#henryholt #wearenotabletoliveinthesky #microfinance #marakardasnelson

The author exposes the inner workings of microcredit in poor countries, especially Sierra Leone.

I knew only a small amount about the topic before this book - I was definitely not aware that people were paying such high interest rates (in fact, I assumed these loans were low- or no-interest); they're frequently quoted as being over 100%, with at least one <i>effective</i> rate, after all is said and done, over 400%.

And then a study shows that many of these borrowers are poorer after taking out the loans than they were before. Is anyone really surprised?

The book itself felt somewhat disjointed and repetitive. The author includes narrative portions, profiling the lives of 3 different women in Sierra Leone whose lives have been affected by microloans, and I couldn't keep their stories straight, because the book kept bouncing between all of them.

I'm glad I read it, but I think this could have been a long article instead - at the very least, a much shorter book.

There was some brief, mild profanity, and God's name was misused at least once.

Thanks to the publisher for access to this book in exchange for a review. The author blends original reporting, economic analysis, and narrative non-fiction to assess the real impacts of microfinance on marginalized communities.

Fascinating look into the origins and inner workings of microfinance. The author mixes facts and statistics with real-life examples that the reader follows throughout the book. The details behind the scenes of microfinance lenders is eye-opening and thought-provoking, raising a lot of questions about whether these loans are truly improving the lives of the people they are meant to help.

Thanks, NetGalley, for the ARC.