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.