The Swedish Academy bestowed this year’s Nobel Peace Prize to Muhammad Yunus, the father of microcredit. It’s easy to believe Yunus’s low-interest loans to the poor are a silver bullet against global economic injustice. But it’s not that simple.
Nicholas Kristof produces a steady stream of titillating reports on
child prostitution in the Third World. Better to focus on draconian
economic reforms driven by the World Bank that create the conditions
The late socialist economist Harry Magdoff read Marx at
fifteen and never looked back. A self-educated co-editor of the
Monthly Review, he not only fought for a just and humane world;
he embodied his politics in the way he conducted his life.
It’s easy to scoff at a rock star like Bono pairing up with
economist Jeffrey Sachs. But their tireless lobbying for debt relief
for the poorest nations could make a real difference for the 1 billion
people who live on less than a dollar a day.