Is it an effort to catch the headlines? Is it simply that Yunus is used to hyperbole? Or is he demented? What made him say the things he did in New York? He basically said that Bangladesh had made enormous strides and that if things kept on going like this….then BY THE YEAR 2030 Bangladesh WOULD BE A MODERN COUNTRY FREE FROM POVERTY.

Not since my fresher year have I heard such nonsense. I remember Montek Ahluwalia’s “inverted U” hypothesis of income inequality and development. A simple story told elegantly but totally unrealistically. All you development economists out there will know what I am on about. And we had a great time poking fun at the poverty of neoclassical economics. Yunus, unlike Ahluwalia, has no pretensions to base his argument on regression analysis or stats or comparative examples or history. He is just shooting his mouth off saying what he needs to for his own reasons. Give it a rest Mr Yunus. You are making a bloody fool of yourself.

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