A thoroughly deserving Nobel Peace Prize

The New York Times reports:

"The 2006 Nobel Peace Prize was awarded today to the Grameen Bank of Bangladesh and its founder, Muhammad Yunus, for pioneering microcredit — using loans of tiny amounts to transform destitute women into entrepreneurs."

And:

"Though it is not the first time the committee has chosen to honor economic development as a contribution to world peace, rather than the more usual diplomacy, rights advocacy or philanthropy, it is the first time the prize has been awarded to a profit-making business.

The selection seemed to embody two connected ideas that are gaining ground among development experts: that attacking poverty is essential to peace, and that private enterprise is essential to attacking poverty."

A more than commendable choice for the Prize. Read the complete NY Times piece here or an extract of the actual Nobel Peace Prize citation here . Check out the Nobel Peace Prize Committee's web site here.

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