Semi-Daily Journal Archive

The Blogspot archive of the weblog of J. Bradford DeLong, Professor of Economics and Chair of the PEIS major at U.C. Berkeley, a Research Associate of the National Bureau of Economic Research, and former Deputy Assistant Secretary of the U.S. Treasury.

Sunday, October 15, 2006

Yunus wins Nobel Peace Prize for Grameen Bank

Felix Salmon on Muhammad Yunus and the Grameen Bank:

RGE - Yunus wins Nobel Peace Prize for Grameen Bank: An economist wins a (kinda, sorta) Nobel Prize every year, but this year is special, with Muhammad Yunus winning an honest-to-goodness Nobel Prize -- the Peace Prize. Tyler Cowen has a world of wonderful links, including to Yunus's Wikipedia entry and to some excellent research on the subject of microfinance.... My own none-too-well-informed take on microfinance is that Grameen did spectacularly well but that other institutions trying to follow its lead have not always followed suit; and that... the real problem is not raising capital but rather finding people who are both willing and qualified to go out into remote rural areas on a more or less permanent basis to set up these institutions. But there's no doubt that microfinance, when done right, is a classic win-win proposition.... An astonishing achievement.

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