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World Bank Reports That Microcredit Works After All

by KimberlyHollins Posted on May 14, 2014

Mother Jones

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Via Tyler Cowen, the World Bank has released a report that examines microfinance in Bangladesh over the longest period yet studied. The results were quite positive:

The results of the basic model unequivocally show that group-based credit programs have significant positive effects in raising household welfare including per capita consumption, household non-land assets and net worth. Microfinance increases income and expenditure, the labor supply of males and females, non-land asset and net worth as well as boys’ and girls’ schooling. Microfinance, especially female credit, also reduces poverty. The results using long-panel data thus confirm most of the earlier findings that microfinance matters a lot, and more for female than for male borrowers.

….Membership in multiple programs has grown steadily from none to 33 percent in 2010/11….Trading is perhaps now saturated with microcredit loans and households have already started to experience diminishing returns. In such circumstances, households must be assisted through skill training and the development of improved marketing networks to expand activities in more rewarding sectors and beyond the local economy; otherwise, microfinance expansion cannot be sustained. In short, the current microfinance policy of credit expansion alone may not be enough to boost income and productivity, and, hence, sustained poverty reduction.

I don’t have anything to add to this, but I wanted to at least make a note of it. A few years ago, there was a huge vogue in microcredit, which was broadly portrayed as a panacea for poor countries. Then there was a backlash, with several studies suggesting that it had been overhyped and didn’t really improve the lives of the poor much. Now this study, which looks at data over the course of 20 years, strongly concludes that—up to a point—microcredit really does produce results. I’ve been vaguely down on microcredit since reading some of those initial reports a few years ago, and I figure that might be a common response. This study pretty clearly suggests that we shouldn’t have been so pessimistic, and for that reason I wanted to pass it along.

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World Bank Reports That Microcredit Works After All

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Republican Tax Increases: A Centrist Fantasy That Refuses to Die

by Lila3153jc Posted on May 13, 2014

Mother Jones

Dave Weigel points me to Ron Fournier’s latest column:

As late as a year ago, just a few months after Obama shoved a reelection tax hike down their throats, the GOP leadership was still open to compromise. A budget deal would be hard, but not impossible, to strike. The situation required an able, nimble partner in the White House, a president who could help the GOP leadership reach and sell a deal to their conservative base. In March 2013, I wrote of the GOP: “Don’t mistake a negotiating position for reality. House Republicans tell me they are open to exchanging entitlement reform for new taxes—$250 billion to $300 billion, or approximately the amount that Republican Sen. Pat Toomey of Pennsylvania proposed raising over 10 years under the guise of tax reform.”

The numbers were specific because the possibility of a deal was real. But the White House, quite literally, laughed at it. The president had already bowed to his base, given up on compromise, and damaged his legacy.

I just don’t get this. Are there a few House Republicans who are open to a tax increase? Sure. Probably. Is there even the slightest chance of getting a majority of the GOP caucus to support a tax increase? Of course not. The evidence on this score is overwhelming. John Boehner was never able to get agreement even for the smoke-and-mirrors version of a tax increase, the kind that relies on dynamic scoring and rosy growth estimates. Nor were Republicans willing to accept Toomey’s proposal, even though it was effectively a tax cut, not a tax increase. There’s just plainly never been any chance at all of getting agreement for a proposal that would genuinely, concretely raise revenue.

I’m just flummoxed by this stuff. Whatever else you think of Fournier, he’s an experienced reporter who understands the political landscape. How can he possibly believe this stuff?

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Republican Tax Increases: A Centrist Fantasy That Refuses to Die

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OkCupid’s CEO Donated to an Anti-Gay Campaign Once, Too

by CarmeloStanley Posted on April 7, 2014

Mother Jones

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Last week, the online dating site OkCupid switched up its homepage for Mozilla Firefox users. Upon opening the site, a message appeared encouraging members to curb their use of Firefox because the company’s new CEO, Brendan Eich, allegedly opposes equality for gay couples—specifically, he donated $1000 to the campaign for the anti-gay Proposition 8 in 2008. “We’ve devoted the last ten years to bringing people—all people—together,” the message read. “If individuals like Mr. Eich had their way, then roughly 8% of the relationships we’ve worked so hard to bring about would be illegal.” The company’s action went viral, and within a few days, Eich had resigned as CEO of Mozilla only weeks after taking up the post. On Thursday, OkCupid released a statement saying “We are pleased that OkCupid’s boycott has brought tremendous awareness to the critical matter of equal rights for all individuals and partnerships.”

But there’s a hitch: OkCupid’s co-founder and CEO Sam Yagan once donated to an anti-gay candidate. (Yagan is also CEO of Match.com.) Specifically, Yagan donated $500 to Rep. Chris Cannon (R-Utah) in 2004, reports Uncrunched. During his time as congressman from 1997 to 2009, Cannon voted for a constitutional amendment banning same-sex marriage, against a ban on sexual-orientation based job discrimination, and for prohibition of gay adoptions.

He’s also voted for numerous anti-choice measures, earning a 0 percent rating from NARAL Pro Choice America. Among other measures, Cannon voted for laws prohibiting government from denying funds to medical facilities that withhold abortion information, stopping minors from crossing state lines to obtain an abortion, and banning family planning funding in US aid abroad. Cannon also earned a 7 percent rating from the ACLU for his poor civil rights voting record: He voted to amend FISA to allow warrant-less electronic surveillance, to allow NSA intelligence gathering without civil oversight, and to reauthorize the PATRIOT act.

Of course, it’s been a decade since Yagan’s donation to Cannon, and a decade or more since many of Cannon’s votes on gay rights. It’s possible that Cannon’s opinions have shifted, or maybe his votes were more politics than ideology; a tactic by the Mormon Rep. to satisfy his Utah constituency. It’s also quite possible that Yagan’s politics have changed since 2004: He donated to Barack Obama’s campaign in 2007 and 2008. Perhaps even Firefox’s Eich has rethought LGBT equality since his 2008 donation. But OkCupid didn’t include any such nuance in its take-down of Firefox. Combine that with the fact that the company helped force out one tech CEO for something its own CEO also did, and its action last week starts to look more like a PR stunt than an impassioned act of protest. (Mother Jones reached out to OkCupid for comment: We’ll update this post if we receive a response.)

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OkCupid’s CEO Donated to an Anti-Gay Campaign Once, Too

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King tides give California coast a taste of warmer, wetter future

by Myrna Posted on December 12, 2012

King tides give California coast a taste of warmer, wetter future

By Susie Cagle

THE KING TIDES ARE COMING. Through the end of the week, California will be experiencing its highest tides of the year, the “king” kind, that come around each winter. It may be galactic gravity that’s pulling the water closer, but it looks a lot like climate change! The tides will be as high as +10.1 feet in some places.

SantaBarbaraOceanGirl

From The San Jose Mercury News:

“Flooding would be a concern if we had a storm system coming through,” said Matt Mehle, a meteorologist with the National Weather Service in Monterey. Instead, the rising water will offer a teachable moment, scientists say. Already, the ocean off California has risen 8 inches in the past 100 years. As the earth warms, polar ice melts, and the warmer ocean water expands, increasing sea level. That rate of sea level rise is accelerating. A National Academy of Sciences report in July found that, relative to sea levels in 2000, the California coast south of Cape Mendocino is projected to experience sea level rise of 1.5 inches to 11.8 inches by 2030, and 4.7 inches to 24 inches by 2050, and 16.5 inches to 65 inches by 2100.

Just because the Golden State won’t have a Sandy-sized catastrophe doesn’t mean there can’t still be a lesson in all this. The Mercury News calls this “a giant science project” but I call it “scaring people into better behavior.” The California King Tides Initiative is collecting citizens’ photos of the tides in an effort to educate the public about what higher sea levels might actually look like.

These photographs help us visualize the impact of rising waters on the California coast. Our shores are constantly being altered by human and natural processes and projections indicate that sea level rise will exacerbate these changes. The images offer a living record of the changes to our coasts and shorelines and a glimpse of what our daily tides may look like in the future as a result of sea level rise. Photos taken during king tide events document impacts to private property, public infrastructure, and wildlife habitat across the state.

For locals still set on taking a long walk on the beach, the king tides also bring extremely low tides in midday, but the California Coastal Commission has a friendly suggestion for the rest of us.

Just a thought … California’s next king tides will hit in 2013: Jan. 9-11 and Feb. 7-9.

Susie Cagle writes and draws news for Grist. She also writes and draws tweets for

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King tides give California coast a taste of warmer, wetter future

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