This blog provides an updated Storify on videos featuring development economist Esther Duflo, co-author of the best-selling book Poor Economics. 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.
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.