Poor Economics: A Radical Rethinking of the Way to Fight

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty Winner of theFinancial Times Goldman Sachs Best Business Book of the Year AwardBillions of government dollars, and thousands of charitable organizations and NGOs, are dedicated to helping the world s poor But much of their work is based on assumptions that are untested generalizations at best, harmful misperceptions at worstAbhijit Banerjee and Esther Duflo have pioneered the use of randomized control trials in development economics Work based on these principles, supervised by the Poverty Action Lab, is being carried out in dozens of countries Drawing on this and theiryears of research from Chile to India, Kenya to Indonesia, they have identified wholly new aspects of the behavior of poor people, their needs, and the way that aid or financial investment can affect their lives Their work defies certain presumptions that microfinance is a cure all, that schooling equals learning, that poverty at the level ofcents a day is just a extreme version of the experience any of us have when our income falls uncomfortably lowThis important book illuminates how the poor live, and offers all of us an opportunity to think of a world beyond povertyLearn at pooreconomics

10 thoughts on “Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

  1. says:

    Poor Economics doesn t simply offer a unilateral view of how to fight global poverty rather, this book offers views from both sides of the foreign aid debate i.e Sachs v Easterly and provides examples of different organizations that have dealt with attacking poverty on both small and large scales There are five key takeaways from Poor Economics, with regard to any localized campaigns attempting to improve the lives of the po

  2. says:

    So This is an economics book A rumbling sound is heard as ninety percent of the people reading this review frantically jiggle their mice in an effort to click another link on this page Any link Even an ad for laundry detergent Ok, hello to the two remaining readers out there Thank you for sticking around I know economics is one of the least sexy words in reading, right up there with tax law and that economics books are as entici

  3. says:

    Note to Self to include this when writing a full blown review for this book.I recently read an article published in NY Times on how women economists are NOT recognized for their work when they co author it with another a male economist The article goes on to explain how the bias is deep entrenched in the field of economics Recently, I was having a conversation with a friend, working in the field of finance, on the Indian economy and

  4. says:

    Review to come

  5. says:

    This kind of book can be annoying, as popular social science tends to fall into one of two camps The first are those that just repeat a single idea over an over again e.g The Tipping Point The second are those that simply rehash 101 textbooks, adding a few kooky examples or anecdotes e.g The Undercover Economist.To some extent, this book is vulnerable to both those criticisms The authors make a big push on the importance of empirical eviden

  6. says:

    Disappointing I was very eager to read about rigorous studies that determine what works for fighting poverty But the authors somehow kept getting off track from this desperately important concept I still think the work of the Poverty Action Lab is very interesting, but this is just not an exciting book about a radical rethinking of the way to fight global poverty The big five lessons from the authors are 1 The poor lack information so tell them

  7. says:

    This is one of the best pop economics books I have read in a very long time Such books typically follow the same recipe top academic seeks recognition outside the profession and writes the book propounding the theory, enlisting in support loads of evidence consistent with the theory, and curiously brushing off forgetting to mention most of any evidence even vaguely incompatible with the main argument of the book The book tends to go on forever repe

  8. says:

    This book is not what I thought it was or what it promised it would be in the intro It is not an economic analysis of poverty I was thinking it would bein line with books like scarcity that explain the decisionmaking of poor people as a rational response to circumstances It had elements of that certainly, but it was a book about development I didn t love the first half of the book, but I thought the second half or third was very useful Especially their

  9. says:

    I mentioned this book on my blog here, and now I finally read it I ll admit I was a little disappointed that the book wasn t as detailed as her lecture on the actual experiments the Poverty Action Lab has been involved in There was muchon larger picture topics and brief summaries of experiments and how they contributed to the dialogue on how to address that particular topic within development circles.That said, it was still a fascinating read and I mention

  10. says:

    Banerjee and Duflo have written a great book that aims to see poverty as a set of concrete problems that, once properly identifed and understood, can be solved one at a time Using the best economic and observational evidence often taken from randomised trials they build a case for what actually works in helping overcome poverty, taking up the fight against what they argue are the biggest barriers ignorance, ideology and inertia.It is thoughtful and rigorous, t

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About the Author: Abhijit V. Banerjee

Abhijit Vinayak Banerjee is an Indian economist He is currently the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology Banerjee is a co founder of the Abdul Latif Jameel Poverty Action Lab along with economists Esther Duflo and Sendhil Mullainathan and a Research Affiliate of Innovations for Poverty Action, a New Haven, Connecticut based research outfit dedicated to creating and evaluating solutions to social and international development problems, and a Member of the Consortium on Financial Systems and Poverty He was awarded 2019 Nobel Memorial Prize in Economic Sciences for his experimental approach to alleviating global poverty He is also the recipient of the inaugural Infosys Prize in the category of Social Sciences Economics.

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