President Kaspar Villiger of Switzerland, Prime Minister Aníbal Cavaco Silva de Portugal, Stephan Schmidheiny, Hernando de Soto [1] , and Muhammad Yunus (ISC-Symposium en la Universidad de St Gallen, 22 May 1995)

"The Max Schmidheiny Foundation at the University of St. Gallen awards the Freedom Prize for the year 1995 to Hernando de Soto, Peru:

to the thinker, who profoundly influences the debate on development theory, regarding freedom, law and ownership not as the exclusive domain of the Northern Hemisphere, but considering these principles also valid for Latin America, and who contributes powerful impulses with his reflection on the "Path to Property",

to the urging voice, who unflinchingly upholds the consistent application of the rule of law, knowing that only by a democratization of government decisions can the conditions be created which will engender a lasting prosperity for the community as a whole and for as many individuals as possible,

to the homo politicus, who expresses thought and deed in maxims which signpost ways to overcome bureaucracy and mercantilism, and who remains true to his convictions even when power lures and terror threatens."

1995 Winners
President Kaspar Villiger also awarded The Freedom Prize to Dr. Aníbal Cavaco Silva, Prime Minister of Portugal, and Dr. Muhammad Yunus, President of the Grameen Bank.

The Freedom Prize
"Every year, the Max Schmidheiny Foundation honours persons and institutions who have contributed to the maintenance and further development of a free social and economic order. It thereby promotes outstanding scientific, political and entrepreneurial initiatives and achievements that safeguard individual freedom and responsibility. Every year's value of the prize is CHF 100,000.- for each awardee. It is being awarded in the framework of the ISC-Symposium at the University of St. Gallen, Switzerland. In this way, the attachment of the founder to the University as well as to the initiatives of the International Students' Committee (ISC) is given expression." **

* Photograph taken by Regina Kühne.
** From "The Freedom Prize" at the Max Schmidheiny Foundation [2] site.