Peace and free trade: "One and the same cause"

Foundation for Economic Education
by Sheldon Richman

10/20/06

The Nobel Peace Prize this year went to a different sort of activist. Muhammad Yunus, a Bangladeshi economics professor, and his Grameen Bank won the prize for pioneering the concept of microcredit, small loans made to poor producers who because they lack collateral can't get conventional bank loans. 'Lasting peace cannot be achieved unless large population groups find ways in which to break out of poverty,' the Nobel committee said. 'Microcredit is one such means. Development from below also serves to advance democracy and human rights'...

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