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. Work based on these principles, supervised by the Poverty Action Lab at MIT, is being carried out in dozens of countries. Banerjee and Esther Duflo 4. The authors have pioneered the use of randomized control trials in development economics. Poor Economics A Radical Rethinking of the Way to Fight Global Poverty by Abhijit V. But much of the work they do is based on assumptions that are untested generalizations at best, flat out harmful misperceptions at worst. Billions of government dollars, and thousands of charitable organizations and NGOs, are dedicated to helping the world's poor. Summary: This book offers a view of the lives of the world's poorest people, helping to explain why the poor tend to borrow in order to save, why they miss out on free life-saving immunizations but pay for drugs that they do not need, and the cointerintuitive challenges faced by those living on less than 99 cents a day.
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