Poor Economics

Called "marvelous, rewarding" by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day.

Author: Abhijit Banerjee

Publisher: PublicAffairs

ISBN: 9781610390934

Category: Business & Economics

Page: 320

View: 430

Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two practical visionaries working toward ending world poverty, answer these questions from the ground. In a book the Wall Street Journal called “marvelous, rewarding,” the authors tell how the stress of living on less than 99 cents per day encourages the poor to make questionable decisions that feed—not fight—poverty. The result is a radical rethinking of the economics of poverty that offers a ringside view of the lives of the world's poorest, and shows that creating a world without poverty begins with understanding the daily decisions facing the poor.

Poor Economics

From the award-winning founders of the Abdul Latif Jameel Poverty Action Lab at MIT, a transformative reappraisal of the world of the extreme poor, their lives, desires, and frustrations.

Author: Abhijit V. Banerjee

Publisher: Penguin Books, Limited (UK)

ISBN: 9780718193669

Category: Business & Economics

Page: 303

View: 603

From the award-winning founders of the Abdul Latif Jameel Poverty Action Lab at MIT, a transformative reappraisal of the world of the extreme poor, their lives, desires, and frustrations.

Poor Economics

Called "marvelous, rewarding" by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day.

Author: Abhijit V. Banerjee

Publisher: Hachette UK

ISBN: 1610391608

Category: Business & Economics

Page: 320

View: 706

The winners of the Nobel Prize in Economics upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based on years of field research from around the world. Called "marvelous, rewarding" by the Wall Street Journal, the book offers a radical rethinking of the economics of poverty and an intimate view of life on 99 cents a day. Poor Economics shows that creating a world without poverty begins with understanding the daily decisions facing the poor.


Poor Economics

Two highly regarded economists relay 15 years of research into a smart, engaging investigation of the real nature of global poverty and why current approaches to addressing miss the mark.

Author: Ford Foundation International Professor of Economics Abhijit Vinayak Banerjee

Publisher: Highbridge Company

ISBN: 9781611747522

Category: BUSINESS & ECONOMICS

Page:

View: 511

Two highly regarded economists relay 15 years of research into a smart, engaging investigation of the real nature of global poverty and why current approaches to addressing miss the mark.

Poor Economics

Revelatory and impassioned, Poor Economics is a pathbreaking book that will help you to understand the real causes of poverty and how to end it.

Author: Abhijit V Banerjee

Publisher: Random House India

ISBN: 8184002122

Category: Literary Collections

Page: 460

View: 441

WINNERS OF THE 2019 NOBEL PRIZE IN ECONOMICS Imagine you have a few million dollars. You want to spend it on the poor. How do you go about it? Billions 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 about the poor and the world that are untested generalizations at best, harmful misperceptions at worst. Abhijit V. Banerjee and Esther Duflo have pioneered the use of randomized control trials in development economics through their award-winning Poverty Action Lab. They argue that by using randomized control trials, and more generally, by paying careful attention to the evidence, it is possible to make accurate—and often startling assessments—on what really impacts the poor and what doesn’t. Why would a man in Morocco who doesn’t have enough to eat buy a television? Why is it so hard for children in poor areas to learn even when they attend school? Why do the poorest people in Maharashtra spend 5 percent of their total budget on sugar? Does having lots of children actually make you poorer? Drawing on their research at the Poverty Action Lab and their fifteen years of fieldwork in India and across the world, the two economists ask many such questions and show why the poor, despite having the same desires and abilities as anyone else, end up with entirely different lives. Revelatory and impassioned, Poor Economics is a pathbreaking book that will help you to understand the real causes of poverty and how to end it.

SUMMARY Poor Economics A Radical Rethinking Of The Way To Fight Global Poverty By Abhijit V Banerjee And Esther Duflo

They present not one, but models, based on the idea that it is by understanding the livelihoods of the poorest that solutions can be found to help them out of poverty. *Buy now the summary of this book for the modest price of a cup of ...

Author: Shortcut Edition

Publisher: Shortcut Edition

ISBN:

Category: Business & Economics

Page: 35

View: 475

* Our summary is short, simple and pragmatic. It allows you to have the essential ideas of a big book in less than 30 minutes. As you read this summary, you will discover that beyond the traditional anti-poverty policies that have emerged over the past decades, there is another way of looking at situations. You will also discover that : the poor have little access to information; the poor take responsibility for too many aspects of their lives; they have no access to certain markets, such as credit, or at exorbitant prices; poor countries are not doomed to failure because they are poor; when a situation begins to improve, beliefs and certainties change. Abhijit Banerjee and Esther Duflo rely on field studies with NGOs, government officials, health workers, etc., to support their work. They propose a new vision of poverty and, above all, ways of fighting it, through limited experiments and ingenious solutions proven in the field. They present not one, but models, based on the idea that it is by understanding the livelihoods of the poorest that solutions can be found to help them out of poverty. *Buy now the summary of this book for the modest price of a cup of coffee!

Review Essay Poor Economics Banerjee Duflo

Subsequently, an evaluation of limitations (2.3) and shortcomings (2.4) of the book will be conducted. By evaluating the approach and findings of “Poor Economics”, the essay will be able to compare it with other scholarly works (3.).

Author: Christopher King

Publisher: GRIN Verlag

ISBN: 3656511012

Category: Social Science

Page: 9

View: 458

Literature Review from the year 2013 in the subject Politics - International Politics - Topic: Development Politics, grade: 1,0, Indiana University (Department of Political Science), course: Politics of International Development, language: English, abstract: “After all, we have spent billions of dollars on aid. [...] Has it done any good? And sadly, we don’t know. And worst of all, we will never know.” (Duflo 2010, 01:37) Poverty alleviation is a huge humanitarian challenge and also the supreme discipline of some economists. The effort to fight poverty had a mixed success so far and scholars claim different reasons for that outcome (cf. Besley 2012). In “Poor Economics”, Abhijit Banerjee and Esther Duflo avoid the often polemic ‘Sachs vs. Easterly’ aid debate and promise a “radical rethinking of the way to fight global poverty”: They make a convincing case about learning on the lives of the poor and the unique choices they have to face in their lives. Banerjee/Duflo understand how the poor perceive their conditions and come to the decision they make and are therefore able to craft better strategies and interventions that actually help the poor and do not produce unintended consequences. By doing that, they deliberately target the micro-level and leave out the level of politics or institutions, which is somewhat problematic, to search effective approaches in answers of the smaller questions. This essay is structured in the following way: After an introduction to the analysis (2.) and an overview of Randomized Controlled Trials (RCTs), the main method of Banerjee/Duflo (2.1), the analysis will provide an assessment of key examples of the two scholars’ research (2.2). Subsequently, an evaluation of limitations (2.3) and shortcomings (2.4) of the book will be conducted. By evaluating the approach and findings of “Poor Economics”, the essay will be able to compare it with other scholarly works (3.). A conclusion (4.) will summarize the review and end with a personal take on what has been learned through studying the book.


Good Economics for Hard Times

A much-needed antidote to polarized discourse, this book shines a light to help us appreciate and understand our precariously balanced world.

Author: Abhijit V. Banerjee

Publisher: Penguin UK

ISBN: 0141986204

Category: Business & Economics

Page: 256

View: 676

FROM THE WINNERS OF THE 2019 NOBEL PRIZE IN ECONOMICS 'Wonderfully refreshing . . . A must read' Thomas Piketty In this revolutionary book, prize-winning economists Abhijit V. Banerjee and Esther Duflo show how economics, when done right, can help us solve the thorniest social and political problems of our day. From immigration to inequality, slowing growth to accelerating climate change, we have the resources to address the challenges we face but we are so often blinded by ideology. Original, provocative and urgent, Good Economics for Hard Times offers the new thinking that we need. It builds on cutting-edge research in economics - and years of exploring the most effective solutions to alleviate extreme poverty - to make a persuasive case for an intelligent interventionism and a society built on compassion and respect. A much-needed antidote to polarized discourse, this book shines a light to help us appreciate and understand our precariously balanced world.

Bull s Eye

In this book, we have hand-picked the most sophisticated, unanticipated, absorbing (if not at times crackpot!), original and musing book reviews of "Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty.

Author: Lucas Burring

Publisher: Lennex

ISBN: 9785458997287

Category:

Page: 44

View: 584

In this book, we have hand-picked the most sophisticated, unanticipated, absorbing (if not at times crackpot!), original and musing book reviews of "Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty." Don't say we didn't warn you: these reviews are known to shock with their unconventionality or intimacy. Some may be startled by their biting sincerity; others may be spellbound by their unbridled flights of fantasy. Don't buy this book if: 1. You don't have nerves of steel. 2. You expect to get pregnant in the next five minutes. 3. You've heard it all.

The Economics of Poverty

"An overview of the economic development of and policies intended to combat poverty around the world"--

Author: Martin Ravallion

Publisher: Oxford University Press

ISBN: 0190212772

Category:

Page: 720

View: 448

While there is no denying that the world has made huge progress against absolute poverty over the last 200 years, until recent times the bulk of that progress had been made in wealthy countries only. The good news is that we have seen greater progress against poverty in the developing world in recent times-indeed, a faster pace of progress against extreme poverty than the rich world saw over a period of 100 years or more of economic development. However, continuing progress is far from assured. High and rising inequality has stalled progress against poverty in many countries. We are seeing generally rising relative poverty in the rich world as a whole over recent decades. And even in the developing world, there has been less progress in reaching the poorest, who risk being left behind, and a great many people in the emerging middle class remain highly vulnerable to falling back into poverty. The Economics of Poverty strives to support well-informed efforts to put in place effective policies to assure continuing success in reducing poverty in all its dimensions. The book reviews critically the past and present debates on the central policy issues of economic development everywhere. How much poverty is there? Why does poverty exist? What can be done to eliminate poverty? Martin Ravallion provides an accessible new synthesis of current knowledge on these issues. It does not assume that readers know economics already. Those new to economics get a lot of help along the way in understanding its concepts and methods. Economics lives though its relevance to real world problems, and here the problem of global poverty is both the central focus and a vehicle for learning.

The Economics of Poverty

Poor Areas.” In David Giles and Aman Ullah (eds.), Handbook of Applied Economic Statistics. New York: Marcel Dekkar. Ravallion, Martin. 1999a. “Are Poorer States Worse at Targeting their Poor?” Economics Letters 65: 373–377.

Author: Martin Ravallion

Publisher: Oxford University Press

ISBN: 0190212764

Category: Equality

Page: 736

View: 236

"An overview of the economic development of and policies intended to combat poverty around the world"--

Economics in the Twenty First Century

A. Banerjee and E. Duflo, “The Economic Lives of the Poor,” Journal of Economic Perspectives 21(1) (2007): 141–67. A. Banerjee and E. Duflo, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty (New York: ...

Author: Robert Chernomas

Publisher: University of Toronto Press

ISBN: 1442626771

Category: 83.01 history and philosophy of economics

Page: 199

View: 269

Economics has always been nicknamed the "dismal science," but today the field seems a little more dismal than usual as governments, social movements, and even students complain that the discipline is failing to make sense of the major economic problems of the day. In Economics in the Twenty-First Century, Robert Chernomas and Ian Hudson demonstrate how today's top young economists continue to lead the field in the wrong direction. The recent winners of the John Bates Clark medal, economics's "baby Nobel," have won that award for studying important issues such as economic development, income inequality, crime, and health. Examining their research, Chernomas and Hudson show that this work focuses on individual choice, ignores the systematic role of power in the economic system, and leads to solutions that are of limited effectiveness at best and harmful at worst. An accessible summary of the latest debates in economics, Economics in the Twenty-First Century takes on what is missing from mainstream economics, why it matters, and how the discipline can better address the key concerns of our era.

The Economics of Poverty Traps

STICERD-Economic Organisation and Public Policy Discussion Papers Series no. 058, Suntory and Toyota International Centres for Economics and Related Disciplines. Banerjee, Abhijit, and Esther Duflo. 2011. Poor Economics: A Radical ...

Author: Christopher B. Barrett

Publisher: University of Chicago Press

ISBN: 022657444X

Category: Business & Economics

Page: 464

View: 340

What circumstances or behaviors turn poverty into a cycle that perpetuates across generations? The answer to this question carries especially important implications for the design and evaluation of policies and projects intended to reduce poverty. Yet a major challenge analysts and policymakers face in understanding poverty traps is the sheer number of mechanisms—not just financial, but also environmental, physical, and psychological—that may contribute to the persistence of poverty all over the world. The research in this volume explores the hypothesis that poverty is self-reinforcing because the equilibrium behaviors of the poor perpetuate low standards of living. Contributions explore the dynamic, complex processes by which households accumulate assets and increase their productivity and earnings potential, as well as the conditions under which some individuals, groups, and economies struggle to escape poverty. Investigating the full range of phenomena that combine to generate poverty traps—gleaned from behavioral, health, and resource economics as well as the sociology, psychology, and environmental literatures—chapters in this volume also present new evidence that highlights both the insights and the limits of a poverty trap lens. The framework introduced in this volume provides a robust platform for studying well-being dynamics in developing economies.

Randomized Control Trials in the Field of Development

8 The Rhetorical Superiority of Poor Economics Agnès Labrousse 8.1 Poor Economics : A Puzzling Success , a Persuasive Rhetoric As McCloskey ( 1983 ) has shown , rhetoric is indeed omnipresent in economics .

Author: Florent Bédécarrats

Publisher: Oxford University Press

ISBN: 0192635522

Category: Business & Economics

Page: 448

View: 541

In October 2019, Abhijit Banerjee, Esther Duflo, and Michael Kremer jointly won the 51st Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel "for their experimental approach to alleviating global poverty." But what is the exact scope of their experimental method, known as randomized control trials (RCTs)? Which sorts of questions are RCTs able to address and which do they fail to answer? The first of its kind, Randomized Control Trials in the Field of Development: A Critical Perspective provides answers to these questions, explaining how RCTs work, what they can achieve, why they sometimes fail, how they can be improved and why other methods are both useful and necessary. Bringing together leading specialists in the field from a range of backgrounds and disciplines (economics, econometrics, mathematics, statistics, political economy, socioeconomics, anthropology, philosophy, global health, epidemiology, and medicine), it presents a full and coherent picture of the main strengths and weaknesses of RCTs in the field of development. Looking beyond the epistemological, political, and ethical differences underlying many of the disagreements surrounding RCTs, it explores the implementation of RCTs on the ground, outside of their ideal theoretical conditions and reveals some unsuspected uses and effects, their disruptive potential, but also their political uses. The contributions uncover the implicit worldview that many RCTs draw on and disseminate, and probe the gap between the method's narrow scope and its success, while also proposing improvements and alternatives. Without disputing the contribution of RCTs to scientific knowledge, Randomized Control Trials in the Field of Development warns against the potential dangers of their excessive use, arguing that the best use for RCTs is not necessarily that which immediately springs to mind. Written in plain language, this book offers experts and laypeople alike a unique opportunity to come to an informed and reasoned judgement on RCTs and what they can bring to development.

Bulletin of the Atomic Scientists

'If we knew the economics of agriculture, we would know much of the economics of being poor.' The. economics. of. being. poor. Theodore W. Schultz, economist, is the Charles L. Hutchinson Distinguished. THEODORI-: W. SCHULTZ Most of the ...

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ISBN:

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Page: 64

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Poverty Economics and Society

Poor Law to Poverty Program: Economic Security Policy in Britain and the United States (Pittsburgh: University of Pittsburgh Press, 1967). Miller, Herman. Rich Man, Poor Man (New York: Crowell, 1964). Miller, S. M., and Roby, Pamela.

Author: Helen Ginsburg

Publisher:

ISBN: 9780819113856

Category: Poor

Page: 339

View: 256


Introducing Anthropological Economics

It is the non-availability of means to provide for housing, food or shelter. In such cases, poverty levels are mostly defined using a universal baseline, without references to people's incomes. 32 Poor Economics: a radical rethinking ...

Author: Sujay Rao Mandavilli

Publisher: Sujay Rao Mandavilli

ISBN:

Category: Business & Economics

Page:

View: 910

This paper attempts to merge the concepts and theoretical frameworks of the disciplines of Anthropology and Economics, and attempts to create a new sub-field in Economics called ‘Anthropological Economics’ which is mired in Anthropological concepts and principles and seeks to maximize not only human welfare and happiness but also wealth maximization across cultures, while considering both the psychic unity of man, universal human needs and culture-specific factors. Thus, Anthropological Economics is expected to be inter-related to other disciplines of Economics, but remain complementary to them i.e., it is not expected that it will intrude into other sub-fields of economics, replace them, or override their principles in any way. It will therefore draw upon other aspects of economic theory, and enrich them suitably. It is therefore expected that all aspects of Economic theory will be taken into consideration for policy formulation and decision-making, including those of Anthropological economics, and independent, context-specific judgment will always be applied. The new proposed field of Anthropological Economics proposes to take the idea of Human Welfare to its logical conclusion by extending the work already carried out in various sub-disciplines of economics, and integrating it more tightly with various concepts in Anthropology. Many new tools and techniques are therefore, proposed as a part of this paper, and we believe these will suitably enrich the field of Economics as well. While many attempts have been made in the past to integrate the fields of Anthropology and Economics, we hope this endeavour will take this exercise to a much higher level, by creating a new generation of “Anthroeconomists”. We also hope it will eventually help move mainstream economics away from Neo-classical approaches to Anthropological and human-centric approaches.

Development Economics

“The Economic Lives of the Poor.” Journal of Economic Perspectives 21(1): 141–67. Banerjee, Abhijit, and Esther Duflo. 2011. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. New York: Public Affairs.

Author: Alain de Janvry

Publisher: Routledge

ISBN: 1317504267

Category: Business & Economics

Page: 828

View: 914

Development Economics: theory and Practice provides students and practitioners with the perspectives and the tools they need to think analytically and critically about the current major economic development issues in the world. Alain de Janvry and Elisabeth Sadoulet identify seven key dimensions of development; growth, poverty, vulnerability, inequality, basic needs, sustainability, and quality of life, and use them to structure the contents of the text. This book gives a historical perspective on the evolution of thought in development. It uses theory and empirical analysis to present readers with a full picture of how development works, how its successes and failures can be assessed, and how alternatives can be introduced. The authors demonstrate how diagnostics, design of programs and policies, and impact evaluation can be used to seek new solutions to the suffering and violence caused by development failures. This text is fully engaged with the most cutting edge research in the field, and equips readers with analytical tools for the impact evaluation of development programs and policies, illustrated with numerous examples. It is underpinned throughout by a wealth of student-friendly features including case studies, quantitative problem sets, end-of-chapter questions, and extensive references. This unique text aims at helping readers learn about development, think analytically about achievements and alternative options, and be prepared to compete on the development job market.