Poor economics
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Poor Economics, which champions radical new ways of tackling global poverty, is the 2011 Financial Times and Goldman Sachs Business Book of the Year.
Poor Economics maps out a third way between those experts who believe aid does more harm than good, such as William Easterly and Dambisa Moyo, and those who believe the reverse, like Jeffrey Sachs. Banerjee and Duflo say the three main reasons aid is ineffective are “ideology, ignorance and inertia”. “Precisely because [the poor] have so little,” they write, “we often find them putting much careful thought into their choices: They have to be sophisticated economists just to survive.”
The two authors are part of a group of economists known as the “randomistas”. They have used randomised control trials across five continents to test the impact of policies aimed at beating poverty, from the provision of free anti-malaria bed-nets to education subsidies.
See an interview with the author here.
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