The movement emphasizing free markets to reduce poverty has found strong expression in the "bottom of the pyramid" approach in recent years. It views the poor as "resilient and creative entrepreneurs and value-conscious consumers". This romanticized view of the poor harms the poor in two ways. First, it results in too little emphasis on legal, regulatory and social mechanisms to protect the poor who are vulnerable consumers. Second, it overemphasizes microcredit and underemphasizes fostering modern enterprises that would provide employment opportunities for the poor. More importantly, it grossly underemphasizes the critical role and responsibility of the state in poverty reduction.
The Poor as Value-Conscious Consumers -- Empirical Evidence -- Poverty and Alcohol -- Whitening Cream -- The Poor as an Attractive Market -- The Poor as Entrepreneurs -- BOP Proposition Under-emphasizes the Role of the State -- Conclusion.

11 p.

Includes bibliographical references (p. 10-11).
Also available at the UN Dept. of Economic and Social Affairs website (viewed 23 Sept. 2009).