![]() ![]() Often the answers are startling and counter-intuitive, but make the utmost sense when circumstances are understood. They advocate the use of observation, using rigorous randomized controlled testing on five continents, and most importantly by actually listening to what the poor have to say. Instead, the authors help to understand how the poor really think and make decisions on such matters as education, healthcare, savings, entrepreneurship, and a variety of other issues. Poor Economics lays out a middle ground between purely market-based solutions to global poverty, versus "grand development plans." It rejects broad generalizations and formulaic thinking. It won the 2011 Financial Times and Goldman Sachs Business Book of the Year Award. The book reports on the effectiveness of solutions to global poverty using an evidence-based randomized control trial approach. Banerjee and Esther Duflo, both professors of Economics at Massachusetts Institute of Technology (MIT) and Nobel Memorial Prize in Economic Sciences laureates. Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty (2011) is a non-fiction book by Abhijit V. ![]()
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