Week of International awards- Unlikely winners
The Nobel awards are coming in every day as usual at this time of the year and one of the biggest surprises has been the peace prize which has been awarded to Grameen Bank of Bangladesh and its founder Yunus. For those who might not know Yunus he has been virtually the father of rural revolution in Bangladesh and his Grameen Bank today is a role model for the rural poor being followed by many poor and developing nations especially in Asia. For a country which has been plagued by natural disasters, political instability, corruption and one of the lowest per capita incomes in the world Grameen Bank has been a revelation with its innovative lending approach in providing a helping hand even to the poorest of the poor with no middlemen whatsoever. Perhaps a silver lining in one of the poorest economies of the world, especially since the award goes to prove that when sincere attempts are made to improve the economy peace, harmony, friendship and goodwill can be a big value add to such nations
The other one was the Nobel Prize for Economy which went to another dark horse Edmund Phelps who is a professor of Columbia University. His macro level theories which unraveled the mystery of short term and long term impacts of the link between unemployment and inflation is virtually the text book for many of the world's monetary agencies and Governments to adjust their federal interest rates. He did go one step further than the Newzeland Economist Phillips curve theory on inflation and unemployment and came to the conclusion that inflation does not necessarily depend on unemployment rates and is also dictated by consumer expectations of price increase or decrease
Last but not the last was our own Anita Desai an Indo-US citizen who won the prestigious Booker prize for her novel 'Inheritance of loss' which narrates how a retiring old judge copes suddenly with the return of his orphaned grand daughter. Incidentally her mother who is also a novelist had failed three times after being short listed for the award during earlier years but the daughter was lucky just in her second novel which was completed after 7 years of intense hard work and struggle to find the right publisher. Hard work and determination still pays!
RK
The Nobel awards are coming in every day as usual at this time of the year and one of the biggest surprises has been the peace prize which has been awarded to Grameen Bank of Bangladesh and its founder Yunus. For those who might not know Yunus he has been virtually the father of rural revolution in Bangladesh and his Grameen Bank today is a role model for the rural poor being followed by many poor and developing nations especially in Asia. For a country which has been plagued by natural disasters, political instability, corruption and one of the lowest per capita incomes in the world Grameen Bank has been a revelation with its innovative lending approach in providing a helping hand even to the poorest of the poor with no middlemen whatsoever. Perhaps a silver lining in one of the poorest economies of the world, especially since the award goes to prove that when sincere attempts are made to improve the economy peace, harmony, friendship and goodwill can be a big value add to such nations
The other one was the Nobel Prize for Economy which went to another dark horse Edmund Phelps who is a professor of Columbia University. His macro level theories which unraveled the mystery of short term and long term impacts of the link between unemployment and inflation is virtually the text book for many of the world's monetary agencies and Governments to adjust their federal interest rates. He did go one step further than the Newzeland Economist Phillips curve theory on inflation and unemployment and came to the conclusion that inflation does not necessarily depend on unemployment rates and is also dictated by consumer expectations of price increase or decrease
Last but not the last was our own Anita Desai an Indo-US citizen who won the prestigious Booker prize for her novel 'Inheritance of loss' which narrates how a retiring old judge copes suddenly with the return of his orphaned grand daughter. Incidentally her mother who is also a novelist had failed three times after being short listed for the award during earlier years but the daughter was lucky just in her second novel which was completed after 7 years of intense hard work and struggle to find the right publisher. Hard work and determination still pays!
RK
posted by RK at 9:28 PM
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