This paper assesses the views expressed by Gary Becker and Richard Posner about the economic value of relying on microfinancing for economic development as well as their opinions about its desirability as a means of alleviating poverty. It also raises some issues overlooked by Becker and Posner. Where relevant, the discussion is related to results obtained from a case study of microfinancing in the Sindh District of Pakistan. Subjects covered include the economic efficiency of the supply of microfinance, the optimality of microfinancing versus philanthropy, whether high interest rates and short-term loans for microfinance are justified, preference for females rather than males in microfinancing, social networking and the efficient provision and allocation of microfinance, and the prospects for escaping from poverty as a result of microfinancing.