And the Nobel Peace Prize goes to...

Bangladeshi microcredit pioneer Muhammad Yunus and his Grameen Bank for their work in advancing economic and social opportunities for the poor, particularly women. Here is a fine example of how private individuals should set out and help the poor, and empower them to take control of their lives and better themselves. Instead of the government handing money out in a welfare type system with no checks as to what the money is being used for, Yunus and his bank are loaning out small sums for the purposes of people doing work and making money.

Yunus and his bank pioneered microcredit, which are loans in small dollar amounts of $100 or $50 so that people can buy chickens or other tools. With these purchases the people are better able to raise their standard of living and become meaningful contributors to society. And instead of the money going to people in the form of a grant or handout, the people know the loan must be paid off so they work hard to pay it off and thrive in the business they have started.

Yunus' bank has focused in large part to women, who make up 97% of the 6.6 million borrowers in more than 70,000 villages in Bangladesh. This concerted effort to work with women has given these women a more equal footing with men in an area of the world that has the playing field less than even.

This is a very good lesson for governments and people across the world. People don't need handouts or charity to better themselves, because in reality they aren't bettering themselves. They need help, yes, but in a way that puts them in charge and gives them a mindset to work off the loan which will eventually lead to them working for greater profits and a better standard of living. Instead of monthly $100 handouts, one loan of $100 can yield even greater monthly dividends to the recipient who can work themselves out of the ghetto and into better living conditions for them and their families.

According to the committee on the award, "At GB, credit is a cost effective weapon to fight poverty and it serves as a catalyst in the overall development of socio-economic conditions of the poor who have been kept outside the banking orbit on the ground that they are poor and hence not bankable."

Once again the committee in Oslo got this one right.