Muhammad Yunus is a Ph.D. economist and winner of the Nobel Peace Prize in 2006. He founded the Grameen Bank and was an innovator in using microcredit, or small loans- often of $100 or less-to spur growth in developing countries. "Yunus realized that very small loans to very poor people could make a big difference" in the ability of entrepreneurs in developing countries to start new businesses. Why would the funding to start small firms be more difficult in developing countries than in the United States? How do most entrepreneurs in the United States obtain funds to start new firms? Source: William Easterly, The White Man's Burden: Why the West's Efforts to Aid the Rest Have Done So Much Ill and So Little Good, New York: Penguin Books, 2006, pp. 58-59.