Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty
Author: Abhijit Vinayak Banerjee
Author: Esther Duflo
Publisher: Public Affairs
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Billions of government dollars, and thousands of charitable organizations and NGOs, are dedicated to helping the world's poor. But much of the work they do is based on assumptions that are untested generalizations at best, flat out harmful misperceptions at worst. The authors have pioneered the use of randomized control trials in development economics. Work based on these principles, supervised by the Poverty Action Lab at MIT, is being carried out in dozens of countries. Their work transforms certain presumptions: that microfinance is a cure-all, that schooling equals learning, that poverty at the level of 99 cents a day is just a more extreme version of the experience any of us have when our income falls uncomfortably low. Throughout, the authors emphasize that life for the poor is simply not like life for everyone else: it is a much more perilous adventure, denied many of the cushions and advantages that are routinely provided to the more affluent.
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.
"[Banerjee and Duflo] offer a refreshingly original take on development, and they are very aware of how they are bringing an entirely new perspective into a subject dominated by big polemics from the likes of Jeffrey Sachs and William Easterly... they are clearly very clever economists and are doing a grand job to enrich their discipline's grasp of complex issues of poverty - so often misunderstood by people who have never been poor." --"The Guardian"
"In an engrossing new book they draw on some intrepid research and a store of personal anecdotes to illuminate the lives of the 865m people who, at the last count, live on less than $0.99 a day." --"The Economist"
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