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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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