Oct 16, 2006

macro-reward to microcredit

I'm delighted to the fullest to learn that Nobel peace prize has been awarded to Muhammad Yunus, though pretty late, probably after everyone has already heard it.

What is microcredit?
A small loan, few hundred rupees to an impoverished poor man, who has no collateral to bank upon. This small loan goes a long way to lift a family out of poverty, to nurture entrepreneurship at the lowest level, and to bring the lost smile back on poor farmers and alike when nature hits them the hardest.

I'm conspicuous of the most ambitious project being undertaken by UN, millennium development project to make world poverty free in 25 years, but not microcredit. And secretive Nobel committee did prove it right with timely award. Kudos Yunus, great work.

Oct 5, 2006

Can Bhagawati make it?

Fingers crossed, yet there is hope, a little hope that Bagawati can bring us a smile.

My disappointment started with Natasa Suri, Miss India World, who failed to recapture most revered Miss World crown.

Closely followed and widely guessed Tharoor's exit from UN secretary general poll.

A close shave with nobel in medicine for Utpal Bhadra, but missed.

Amidst all, there is a hope, that is catching fire wide and fast, our man, statistician and free trade guru Jagadish Bhagawati is racing ahead for nobel in economics. I'm sure things turn out in favor, and we eagarly await to hear you adorn the coveted title.