The bible says: No one is a prophet in his homeland (Luke 4:24 , John 4:44). This is one of my favorite proverbs. I first heard it in the Bob Marley song Survival, towards the end he says: A good man is never honored in his own country. In the Latin version (the title of this entry), it says literally: Nemo is a prophet in his own country, hehe... but I digress.
Today that proverb is about to be tested -- for a good man is now seeking honor (in the form of elective office) from the people of his own country. In Bangladesh Muhammad Yunus has entered politics. If I had to draw up a list of people on earth who should be in politics for the benefit of mankind, then this guy would definitely be near the top. Good luck sir!
Micro-finance seems to me like a distributed mechanism that is incentive compatible, and wherein truth-telling is optimal. Which is not the case in traditional banking. For example you have an incentive to appear richer that you truly are to your banker if you are asking for a loan. So what is the conceptual equivalent of micro-finance in a political party? That's why this new development is so great.
ReplyDeleteYunus drops plans to enter politics.
ReplyDeleteI have decided to back out from my efforts for forming a political party, bowing to the practical aspects of the situation," Yunus has said in a statement.
He issued the statement after he met Fakhruddin Ahmed, head of the army-backed interim government, at his official residence on Wednesday night.
Oh well, I guess the bible is right after all.
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ReplyDelete