The revolution in Bangladesh

The recent events in Bangladesh have passed almost unnoticed by the 'mainstream' press in the United States.

The gist of it: a successful revolution seems to have arisen out of a university-centered "quota reform movement".

Here is a primer. The Presidency in Bengladesh is a quasi-monarchical institution on the British model, most ceremonial. Muhammad Shahabuddin was made President by parliament about a year and a half before the revolutionary events discussed below, so he now represents continuity.

The law in Bengladesh 30 percent of government jobs to the families of the "freedom fighters," those who were active in overthrowing the "East Pakistan" government and creating modern Bangladesh in 1971.

Revolution

The quotas caused students outside of the charmed circle to believe that their prospects were limited. A decision by the Supreme Court of the country upholding the 30 percent rule set off the protests to which the government reacted in draconian fashion, the reactions created larger more enraged protests, in an upward spiral.

Protests became a revolution and Prime Minister Hasina fled the country on August 5. She was widely and immediately said to have resigned.

Since then, a new government has installed itself, with the assistance of the army and the acquiescence of Shahabuddin.

What is fascinating is that on August 8, Muhammad Yunus took an oath of office as the country's interim leader. There are lots about this I do not know. For example, WHO swore him in? One of the judges on the country's supreme court? That would be odd since the movement that brought Yunus to this position was set off in reaction to one of that court's decisions.

Another question, what is his title? As near as I can tell, he was NOT sworn in as Prime Minister. His title seems to be Chief Adviser. Yet he seems to be the chief executive, the guy handing out ministry portfolios. That seems an odd title. If that really IS the official title for someone who does the stuff Hasina used to do: where did it come from?

Parliament has been dissolved. New elections are promised. Hasina, safe in India, says she did not resign.

Micro-credit

Who is the new Chief Adviser? Yunus is an Nobel Prize Winning economist and a pioneer in the field of micro-credit, the idea that the development of nations out of poverty can be assured by loans that allow village-level entrepreneurs to buy bicycles.

Looking back, I see that I have mentioned the idea of micro-credit in this blog before, but I have never connected it with Yunus' name. I have connected it with another south-Asia Nobelist, Amartya Sen. Sen's writings on the subject take a more philosophical, Big Picture approach to it. Sen is the philosopher and Yunus is the economist of micro-credit.

Another question though: why Yunus? it is quite a turnaround. The Hasina government was prosecuting him, on a range of charges, which will presumably now fade away. That explains why he would be willing to take the job, but not why he would get it. As to the latter point: it appears that the army stepped in as the situation I described above spiraled out of control. I don't believe the army brass has convictions about village entrepreneurs who need bicycle-buying loans in order to thrive, nor even about the broader question of whether scaling the volume of such micro-loans produces successful broad-based economic development. So: why him?

The student protestors whose dislike of the quota system started things off, seem to admire the decades-older Chief Adviser. They despised the quotas, after all, as part of a system that didn't really need development. From the point of view of the families blessed by the title "freedom fighters," a comfortable life cycle is guaranteed. The people who need development, whether achieved by re-designing banking for the poor or in some other way, are those not so blessed. That may help explain the turn to Yunus.

At any rate, I have more than mentioned Yunus now. There is a photo of him above, front and center. And I will be watching to see what he does with his awesome new responsibilities.

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