Nobel Prize

Opportunity in the Midst of Crisis

Dr. Muhammad Yunus. Photo: <a href="http://www.flickr.com/photos/u2005/538498201/">U2005.com (flickr)</a>
Dr. Muhammad Yunus. Photo: U2005.com (flickr)

Can a lotus bloom out of this recent economic mud? Dr. Muhammad Yunus seems to think so. In a recent interview with CriEnglish, the Nobel Peace Prize Winner says that the world should see the economic crisis as an incredible opportunity.

We shouldn't just look at it [the economic crisis] as a crisis only. It is the greatest of our opportunity to rebuild the economy, rebuild our concept, rebuild our way of doing things so that we move to the right direction with the right structure, because this [current] structure will create problems of the type that it already created...We just kind of put it — patched it — together to move again. Patchwork shouldn't be done this time. This is the real world we're overhauling. Take it apart. Take piece by piece and rebuild, redesign so that we can go on. I think that is the most important part.

From the Archives

Microcredit Wins The Nobel Peace Prize

Previously filed under: Asia, Microfinance
Microcredit is not a panacea to global poverty. It is one of many approaches and should not be relied upon as the only means to eradicate world poverty.

Stories We're Watching

As Growth Slows, India Awakens to Need for Foreign Investment

International Herald Tribune - Tue, 02/07/2012 - 21:27
India’s central bank and economic analysts predict that growth will fall sharply to 7 percent this fiscal year and remain sluggish.

Social responsibility and a new world order

Washington Post - Innovations - Tue, 02/07/2012 - 07:56
Just before the New Year, the London-based Center for Economics and Business Research announced that Brazil had overtaken the United Kingdom as the world’s sixth largest economy. Furthermore, it predicted that by 2020, India and Russia will also have overtaken all the European economic powers.

Aid for trade policy rears its ugly head

The Guardian's Poverty Matters - Mon, 02/06/2012 - 01:41
The UK government's dismay at not being granted the contract for Typhoon fighter jets in India is an indication that its controversial aid for trade policy is still very much alive.

Liberia's battle to put the lights back on

The Guardian's Poverty Matters - Sun, 02/05/2012 - 23:00
Ellen Johnson Sirleaf has set ambitious targets to restore the country's electricity supply. But will it meet them by 2015?

As Africa's consumers rise, so does inequality

Yale Global Online - Fri, 02/03/2012 - 10:17
Kenya struggles to spread the wealth from rapid growth.

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