Dr Judith Rees, director of London School of Economics and Political Science (LSE), confers an honorary doctoral degree in economics from LSE on Nobel Laureate Prof Muhammad Yunus in a ceremony in UK on Thursday. Photo: Yunus Centre.

Staff Correspondent

Nobel laureate Muhammad Yunus on Thursday received an honorary doctoral degree in economics from the London School of Economics (LSE).

LSE Director Dr Judith Rees presented the honorary degree to Prof Yunus in a ceremony at the Old Theatre of the LSE after an oration by Prof Stuart Corbridge, pro-director of the school. More than 500 faculty members and students attended the ceremony.

In the oration, Prof Corbridge said through the creation of Grameen Bank, Prof Yunus has changed the way people see the world.

He invited Prof Yunus to the LSE to teach students whenever he gets the opportunity, said a Yunus Centre press release yesterday.

In his acceptance speech, Prof Yunus said the current global economic crisis is a wake up call to create a new human civilisation in the world, where no one has to suffer the indignity of unemployment and poverty.

“The young people, the most powerful generation in human history, have to take the lead to create the new civilisation,” he said.

In the long history of LSE, only 19 distinguished persons before Prof Yunus had been given the honorary degree.

Earlier, Prof Yunus addressed a conference with social entrepreneurs and social investors. He also delivered a lecture at Chatham House on social business as a way to solve society's pressing needs.

During his two-day stay in London, Prof Yunus attended a meeting of Glasgow Caledonian University to discuss setting up of a Grameen-styled microcredit bank in Scotland.

sources:http://www.bloomberg.com/news/2011-11-23/10q-yunus-finds-happy-profit-in-yogurt.html