Friday, December 26, 2008

Southern Icons: Banker to the Poor-Muhammad Yunus


Muhammad Yunus is one of he most important people on the planet. Like the Green Environmental movement, Dr. Yunus has created a serious and effective movement to end poverty through economics and loans as opposed to AID money. His mission is to give small low interest loans to the poor so that they may create and profit from their own craft or business. The microcredit loans are given by The Grameen Bank and have proven to have a higher repayment rate than loans given to the wealthiest of individuals. This is what Capitalism and Economics can be about, growth and wealth do not necessitate that the poor get poorer. His philosophy is that the poor "want" to participate in society, they do not simply want hand outs.
I cannot recommend more highly, better yet beg more strongly that you learn about this man and the Grameen Bank if you are unfamiliar.

Muhammad Yunus received his Ph.D. in Economics from Vanderbilt University and won the Noble Peace Prize in 2006.



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