Microcredits net Economist a Nobel Peace Prize

Loaning out microcredits: an interesting concept which was socially responsible enough to win an economist the Nobel Peace Prize today:

Economist, bank win Nobel Peace Prize

And there you have it. His idea has potentially raised the Bangladeshi per-capita income from $280 to $440 since 1985. Striking, I know. But it is Bangladesh folks. And that is a huge catch-up effect measured in percentage points.

Some economics concepts to keep in mind for your Econ final.

G'day...