Tuesday, 15 October 2019
Poor Economics and the Nobel Prize
The work of Bannerjee and Duflo featured in their book ‘Poor Economics,’ where they set out their focus: the lives and choices of poor people. As the authors state, the debates on poverty are usually framed by looking at the big questions – what is the ultimate cause of poverty? How much faith should we place in free markets? Is democracy good for the poor? Does foreign aid have a role to play? Whereas as Bannerjee and Duflo note in the book, "the studies we use have in common a high level of scientific rigour, openness to accepting the verdict of the data, and a focus on specific, concrete questions of relevance to the lives of the poor."