Δευτέρα, Οκτωβρίου 16, 2006
Economist's View: Microcredit
Economist's View: Microcredit: "Microcredit
As noted in email I've received and in comments, I have been negligent in not yet acknowledging this year's Nobel prize winner, Bangladeshi economist Muhammad Yunus, for his work on microcredit through the Grameen Bank. Here are some passages from a New Times article followed by a commentary by Hal Varian explaining the economics underlying microcredit arrangements (thanks anne):
Peace Prize to Pioneer of Loans to Poor No Bank Would Touch, by Celia W. Dugger, NY Times: A Bangladeshi economist, Muhammad Yunus, and the bank he founded 30 years ago won the Nobel Peace Prize yesterday for pioneering work in giving tiny loans to millions of poor people no commercial bank would touch — destitute widows and abandoned wives, landless laborers and rickshaw drivers, sweepers and beggars.
The Nobel Committee praised Mr. Yunus, 66, and the Grameen Bank for making microcredit ... a practical solution to combating rural poverty in Bangladesh and inspiring similar schemes across the developing world.
“Microcredit has proved to be an important liberating force in societies where women in particular have to struggle against repressive social and economic conditions,” the committee said in announcing the prize."
As noted in email I've received and in comments, I have been negligent in not yet acknowledging this year's Nobel prize winner, Bangladeshi economist Muhammad Yunus, for his work on microcredit through the Grameen Bank. Here are some passages from a New Times article followed by a commentary by Hal Varian explaining the economics underlying microcredit arrangements (thanks anne):
Peace Prize to Pioneer of Loans to Poor No Bank Would Touch, by Celia W. Dugger, NY Times: A Bangladeshi economist, Muhammad Yunus, and the bank he founded 30 years ago won the Nobel Peace Prize yesterday for pioneering work in giving tiny loans to millions of poor people no commercial bank would touch — destitute widows and abandoned wives, landless laborers and rickshaw drivers, sweepers and beggars.
The Nobel Committee praised Mr. Yunus, 66, and the Grameen Bank for making microcredit ... a practical solution to combating rural poverty in Bangladesh and inspiring similar schemes across the developing world.
“Microcredit has proved to be an important liberating force in societies where women in particular have to struggle against repressive social and economic conditions,” the committee said in announcing the prize."
# posted by Andreas Papandreou @ 10:35 π.μ. 
