Muhammed Yunus, founder of the Bangladesh-based Grameen Bank which provides 'microcredit' to poor people in order that they may escape poverty by starting up their own businesses, is this year's winner of the Nobel Peace Prize. Not a bad choice: the man has done a great deal to improve the lives of many people.
But, as Daniel Davies writes on Comment is Free, "Grameen Bank has been going for 30 years now and Bangladesh is still one of the poorest countries on earth." Davies' piece is worth a read as he mentions Galbraith's idea of poor populations being adapted to poverty: a thesis with which I agree, but which only goes to emphasise that there can be no end to poverty without a wholesale restructuring of the global economy.
About Me
- Mark Braund
- I'm a freelance writer when I can get time away from the rather mundane job which pays the mortgage etc. My recent book, The Possibility of Progress, shares its title with this blog. You can contact me here.
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