In Santa Barbara Independent Richard Appelbaum noted an interview with the the man who is creating a world without poverty:

Muhammad Yunus is the winner of the 2006 Nobel Peace Prize or his path-breaking work in bringing microcredit (tiny loans for small businesses) to millions of impoverished Bangladeshis through the creation of the Grameen Bank.

The idea for microcredit began in the early ’70s, when Yunus — an economist from Bangladesh’s Chittagong University — led his students on a field trip to a poor village, where they interviewed a woman who made bamboo stools. Yunus learned that she had to borrow money at rates as high as 10 percent per week for the bamboo she used — a cost that left her with only two pennies a day as her total income. Had she been able to borrow under fair conditions, she would have been able to amass an economic cushion and rise above a subsistence level. Read the rest of this entry »