Literature Network » Adam Smith

Make room for Adam Smith's invisible hand and win the fight against poverty.(Business Report Weekend)

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From: The Sunday Independent (South Africa)
Date: 20061022
Author:

Muhammad Yunus, the first Nobel Peace laureate from the world of business, is among the more deserving winners in the 105-year-old history of the prize.

The Bangladeshi social entrepreneur has shown that Adam Smith's invisible hand works and that the poor can become bankable. To many people, the accolade for Yunus's Grameen Bank, the world's pioneering microcredit institution, is a slap on the face of capitalism; to them the Nobel is proof that conventional banking is of no use to the poor.

The Nobel committee too seems to be backing this dismal view.

The press ...

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