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Poor Economics: A Radical Rethinking Of The Way To Fight Global Poverty (2011)

by Abhijit V. Banerjee(Favorite Author)

4.19 of 5 Votes: 2

ISBN

1586487981 (ISBN13: 9781586487980)

languge

English

genre

Nonfiction

publisher

PublicAffairs

review 1: Poor Economics doesn't offer a groundbreaking solution to upend global poverty. It instead, has a simple philosophy. "attend to the details, understand how people decide, and be willing to experiment." And experiment they did, the book is littered with thoughtful experiments and analytical review on how to combat poverty among those living on less than 99 cents per day.They also work to to critique the existing beliefs in place, those of Jeffery Sachs who believes major intervention and foreign aid from the western world is the only way to bring nations out of their abject circumstances, and Easterly who adheres to the belief that we shouldn't intervene in their affairs at all, and if any progress is to be made it should be made from these nations internally. The authors o... moref this book illustrate how there can be valid points taken away from both perspectives but we need to dig deeper and learn why the poor spend money and live the way they do. It is one of the best examples of the power of behavioral economics. In the end I feel "Poor Economics" lays a great foundation for many policy makers and NGO's to expand off of, and really hits home that we can't properly address the issue of poverty until we fully understand what causes it and allows it to continue.
review 2: A little heavy with the numbers and statistics. But, otherwise a complete rethinking of why the poor are who they are is cleverly and scientifically strewed across the pages of this rigorously written tome on global poverty. Duflo and Banerjee highlight mainstream policies that aim to eradicate poverty and why they are incorrectly and often ignorantly applied as well as provide a few key ways (for everyone) to get closer to a world free of poverty-stricken communities. less

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