A new tool for helping the poor is proving effective around the world. Microfinance institutions provide small loans and other financial services to low income individuals who are considered unbankable by traditional lending standards, usually because they do not have the collateral to secure a loan from a bank.
These nongovernmental organizations are (more…)
Last Monday, an historic event occurred in the skies over the Mojave Desert. The first privately owned and piloted vehicle exited the Earth’s atmosphere for a few brief minutes. Until then, space had been the exclusive province of governments. This new area of spaceflight suddenly turns dreams into real possibilities for the private sector—and provides an excellent opportunity for government to get out of the space race.
The impetus for this occasion was the (more…)