Saturday, October 14, 2006

Free Markets Work

Dollar SignEconomist wins Nobel Peace Prize for giving tiny loans The truly amazing thing about this is that the intelligencia are rewarding someone with the Nobel Peace Prize for essentially getting the Free Market to solve the problems of poverty.
Five years ago Gulbadan Nesa was destitute, unable to feed her family.

An economist's simple yet revolutionary idea — in the form of a $90 loan — changed her life, pulling the Bangladeshi villager out of a devastating cycle of poverty.
...
She used the money she borrowed from Garmeen [a bank] in 2001 to buy egg-laying chickens, and parlayed her investment into a business that today sells construction materials.
Straight from oppressed world-poor to entreprenuer. You've gotta love it.
[Muhammad] Yunus' notion — today, known as micro-credit — has spread around the globe in the past three decades and is said to have helped at least 100 million people take their first steps out of poverty.
All the communists must be hopping mad.

If we could kill all of the stupid regulations and taxes on business in this country, we could solve our poverty problems as well.

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