Poor Economics

Poor Economics

A Radical Rethinking of the Way to Fight Global Poverty

Book - 2011
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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. Banerjee and Duflo 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"--Provided by publisher.
Publisher: New York : PublicAffairs, c2011
ISBN: 9781586487980
Branch Call Number: ANF 339.460917 BAN
Characteristics: xi, 303 p. : ill. ; 25 cm
Additional Contributors: Duflo, Esther 1972-


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Jun 09, 2012

This is an insight full take causal factors affecting the poors progress in third world countries. They identify 5 areas of commonality.
1)-the lack of critical pieces of information.
2)-bearing too many aspects of normal living (ie:Chlorine in water is not universal).
3)-getting missed in some markets, (ie low savings rates, high financing rates).
4)-wrong people handle programs,as a result of: Ignorance, Ideology, and inertia.
5)-expectations can lead to fulfillment, either making one able on unable to perform.

Their conclusions seem capable of adaption to just about any situation; with some cultural modifications even first world countries might take heed.

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