ARE YOU IMPRESSED WITH THE WINNER OF THE 2006 NOBEL PEACE PRIZE?

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ARE YOU IMPRESSED WITH THE WINNER OF THE 2006 NOBEL PEACE PRIZE?

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best : news related : ARE YOU IMPRESSED WITH THE WINNER OF THE 2006 NOBEL PEACE PRIZE?

[+] serious ballot by Mithrandir
created Fri Oct 13, 06
Bangladeshi microcredit pioneer Muhammad Yunus and his Grameen Bank were awarded the 2006 Nobel Peace Prize for their work in advancing economic and social opportunities for the poor, particularly women.

The Grameen Bank is microfinance organization started in Bangladesh that makes small loans (known as microcredit) to the impoverished without requiring collateral. The system is based on the idea that the poor have skills that are under-utilized.

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COMMENTS:
Voted : Yes
"Access to capital" (or lack thereof) is a major problem within the poorer segments.

by Cathexis on Fri Oct 13, 06 9:38am [+]

Impressedd with the idea yes, but does it really fit under the "peace" category? How did it avoid any conflict more serious than beggar fights and low level street crime in the streets of Bangladesh?

Playing semantics here really, but do you see my point?

by lil_ape on Fri Oct 13, 06 9:48am [+]

Voted : Yes
Yes, this man is an absolute hero. He has created a model for the creation of a middle class in the developing world, as well as disproving the conservative claim that free markets will provide the widest prosperity when left to the passions of the greed-driven and the rich.

(Although, I do kind of see lil ape's point. Oh well, it often happens that nonfamous people get into various halls of fame)

by cranky on Fri Oct 13, 06 10:03am [+]

cranky- How is his bank contrary to free markets? It isn't.

by xxxxxxxx on Fri Oct 13, 06 10:06am [+]

Havingbriefly read up on the Grameen bank, I have to say I agree with Socrates. This bank fully endorses the idea of free markets.

The Grameen bank essentially gives credit to people with no means of guaranteeing re-payment (no collatoral). Its still a bank, and still a money making enterprise. the bank just take greater risk, which it spreads by only dealing in relatively small loans .

by lil_ape on Fri Oct 13, 06 10:15am [+]

Voted : Yes
Yes! It goes a long way to help alleviate economic strife. One could argue that all the wars ever fought were fought on the basis of economics.

by ira_lee_pistimov on Fri Oct 13, 06 11:40am [+]

Soc:

His bank is perfectly aligned with the idea of free markets.

What I said was that free markets shouldn't be left to the tender mercies of the corrupt rich class and that their propaganda that all prosperity begins with funneling all wealth them is false if the goal is to build a middle class.

by cranky on Fri Oct 13, 06 11:41am [+]

Voted : Yes
Sounds like a combination of practicality and compassion.

by skylab on Fri Oct 13, 06 12:58pm [+]

Voted : Other (please comment)
Don't know enough about him to say

by Kiki on Fri Oct 13, 06 9:27pm [+]

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