1722 Omidyars of e-Bay finance an old idea

Now they are calling it "microfinance," but when I first went to work in the Agriculture Library in 1978 and worked with the Agricultural Credit and Technology files, I think we just called them small loans. We had hundreds and hundreds of papers in that file on third world rural development and what could be done with small loans. Sometimes it was several sewing machines, or a well, or a fish farm.

I think I'd say the same thing today I said in the 70s. Roads. Build them. Then do your miracles with microfinance or small loans. Without them, the farmers and the small business people have no market. With no markets, they move to the city slums. Without roads, aid rots in the ports.