by Abhijit Banerjee, Esther Duflo
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Amartya Sen
“A marvellously insightful book by two outstanding researchers on the real nature of poverty.”
Steven D. Levitt
“This book is a must-read for anyone who cares about world poverty. It has been years since I read a book that taught me so much. ‘Poor Economics’ represents the best that economics has to offer.”
Robert Solow
“Abhijit Banerjee and Esther Duflo are allergic to grand generalizations about the secret of economic development. Instead they appeal to many local observations and experiments to explore how poor people in poor countries actually cope with their poverty: what they know, what they seem (or don't seem) to want, what they expect of themselves and others, and how they make the choices that they can make. Apparently there are plenty of small but meaningful victories to be won, some through private and some through public action, that together could add up to a large gains for the world's poor, and might even start a ball rolling. I was fascinated and convinced.”
Book Dwarf, February 14, 2011
“They have a compelling argument that antipoverty programs can be effective if properly designed, and illustrate ways to test them to make sure they actually work. The writing style is accessible and engaging, but it’s not dumbed down or over-simplified. The complexity of the subject means that this book is taking me longer to read than other books, but I’ve found the effort genuinely rewarding.”
Kirkus Review, April 15, 2011
“Highly decorated economists Banerjee and Duflo (Economics/Massachusetts Institute of Technology) relay 15 years of research into a smart, engaging investigation of global poverty—and why we're failing to eliminate it…A refreshingly clear, well-structured argument against the standard approach to poverty, this book, while intended for academics and those working on the ground, should provide an essential wake-up call for any reader.”
“Highly decorated economists Banerjee and Duflo (Economics/Massachusetts Institute of Technology) relay 15 years of research into a smart, engaging investigation of global poverty—and why we're failing to eliminate it…A refreshingly clear, well-structured argument against the standard approach to poverty, this book, while intended for academics and those working on the ground, should provide an essential wake-up call for any reader.”
The Guardian, April 11, 2011
“[Banerjee and Duflo] offer a refreshingly original take on development, and they are very aware of how they are bringing an entirely new perspective into a subject dominated by big polemics from the likes of Jeffrey Sachs and William Easterly… they are clearly very clever economists and are doing a grand job to enrich their discipline's grasp of complex issues of poverty – so often misunderstood by people who have never been poor.”
“[Banerjee and Duflo] offer a refreshingly original take on development, and they are very aware of how they are bringing an entirely new perspective into a subject dominated by big polemics from the likes of Jeffrey Sachs and William Easterly… they are clearly very clever economists and are doing a grand job to enrich their discipline's grasp of complex issues of poverty – so often misunderstood by people who have never been poor.”
The Economist, April 22, 2011
“In an engrossing new book they draw on some intrepid research and a store of personal anecdotes to illuminate the lives of the 865m people who, at the last count, live on less than $0.99 a day.”
The Economist’s Free Exchange Blog, April 21, 2011
“Let me recommend it… Poor Economics is more than just a compendium of the randomistas' greatest hits. For one thing, it contains some well-observed reporting.”
The Economist’s Free Exchange, April 21, 2011
“TO CUT to the chase: this is the best book about the lives of the poor that I have read for a very, very long time. The research is wide-ranging. Much of it is new. Above all, Banerjee and Duflo take the poorest billion people as they find them. There is no wishful thinking. The attitude is straightforward and honest, occasionally painfully so. And some of the conclusions are surprising, even disconcerting.”
Forbes.com, April 25, 2011
“a compelling and important read… an honest and readable account about the poor that stands a chance of actually yielding results.”
Philanthropy Action, April 25, 2011
“Banerjee and Duflo write exceptionally well, and given that there are two of them, the voice is surprisingly singular. But the real surprise in this book is its humility. Both the authors and the material they pull from are truly formidable, yet Banerjee and Duflo are not really out to make a hard pitch, least of all to die-hard Big Idealists who disagree with them. As such, there is nothing directly confrontational about Poor Economics. They are peeling the onion, not hacking it to pieces.”
“Banerjee and Duflo write exceptionally well, and given that there are two of them, the voice is surprisingly singular. But the real surprise in this book is its humility. Both the authors and the material they pull from are truly formidable, yet Banerjee and Duflo are not really out to make a hard pitch, least of all to die-hard Big Idealists who disagree with them. As such, there is nothing directly confrontational about Poor Economics. They are peeling the onion, not hacking it to pieces.”
The New York Times, May 19, 2011
“Randomized trials are the hottest thing in the fight against poverty, and two excellent new books have just come out by leaders in the field. One is “Poor Economics,” by Abhijit Banerjee and Esther Duflo… These terrific books move the debate to the crucial question: What kind of aid works best?”
The Guardian, May 18, 2011
“Abhijit Banerjee and Esther Duflo's book, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, is making waves in development circles. Beyond the strong focus on randomised control trials, the book distinguishes itself by wading into issues on which the development community has often ignored or made uninformed guesses. These include the rationale behind the decisions made by the poor, whether they make the "best" decisions available, and how policymakers should respond.”
“Abhijit Banerjee and Esther Duflo's book, Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, is making waves in development circles. Beyond the strong focus on randomised control trials, the book distinguishes itself by wading into issues on which the development community has often ignored or made uninformed guesses. These include the rationale behind the decisions made by the poor, whether they make the "best" decisions available, and how policymakers should respond.”
Matthew Yglesias, May 7, 2011
“Esther Duflo won the John Bates Clark medal last year for her work on development economics, so I was excited to read her new book with Abhijit Banerjee Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty. It’s a good book. It doesn’t really contain a radical rethinking of the way to fight global poverty, but it does try to cut past lame debates over whether or not foreign aid “works” to instead attempt to find ways to actually assess which programs are working, which aren’t, and how to improve those that don’t.”
The Wall Street Journal, April 30, 2011
“Marvelous, rewarding…’More Than Good Intentions’ and ‘Poor Economics’ are marked by their deep appreciation of the precariousness that colors the lives of poor people as they tiptoe along the margin of survival. But I would give an edge to Mr. Banerjee and Ms. Duflo in this area—the sheer detail and warm sympathy on display reflects a true appreciation of the challenges their subjects face… They have fought to establish a beachhead of honesty and rigor about evidence, evaluation and complexity in an aid world that would prefer to stick to glossy brochures and celebrity photo-ops. For this they deserve to be congratulated—and to be read.”
Financial Times, April 30, 2011
“The ingenuity of these experiments aside, it is the rich and humane portrayal of the lives of the very poor that most impresses. Both books show how those in poverty make sophisticated calculations in the grimmest of circumstances… Books such as these offer a better path forward. They are surely an experiment worth pursuing.”
Cleveland Plain Dealer, May 2, 2011
“Here's something Jesus might recommend: Reading the clear, calm and revelatory book "Poor Economics," from Abhijit Banerjee and Esther Duflo. It is gloriously instructive, and bracing testimony in itself to the gold standard of the Enlightenment: the scientific method. The authors, both economists at MIT, spent 15 years in the field, running randomized controlled trials to test various approaches to combating poverty. They bring both rigor and humility to a predicament typically riven by ideology and blowhards.”
“Here's something Jesus might recommend: Reading the clear, calm and revelatory book "Poor Economics," from Abhijit Banerjee and Esther Duflo. It is gloriously instructive, and bracing testimony in itself to the gold standard of the Enlightenment: the scientific method. The authors, both economists at MIT, spent 15 years in the field, running randomized controlled trials to test various approaches to combating poverty. They bring both rigor and humility to a predicament typically riven by ideology and blowhards.”
Financial World (UK),June 2011
“A remarkable work: incisive, scientific, compelling and very accessible, a must-read for advocates and opponents of international aid alike, for interested laymen and dedicated academics… Amartya Sen, fellow Nobel Prize winner Robert Solow and superstar economics author Steven Levitt wholeheartedly endorse this book. I urge you to read it. It will help shape the debate in development economics.”
Fast Company, June 15, 2011
“Fascinating and captivating. Their work reads like a version of Freakonomics for the poor. There are insights into fighting global poverty from the remarkable and vital perspective of those whom we profess to serve…They remind us, I think, of our shared humanity and how at some fundamental levels we really do think alike.”
IndianExpress.com, June 18, 2011
“This is a welcome shift in methodology as it implicitly concedes the need to combine social science with hard economics.”
Outlook India, June 25, 2011
“It vividly, sensitively and rigorously brings alive the dilemmas of the poor as economic agents in a variety of contexts, whether as consumers or risk-takers. There are splendid chapters on a variety of topics that affect the poor: food, health, education, savings, micro-credit, insurance, risk and even some cursory observations on political behaviour.”
Reilly Media, “Radar” blog, June 27, 2011
“This is possibly the best thing I will read all year, an insightful (and research-backed) book digging into the economics of poverty... Love that the website is so very complementary to the book, and 100% aligned with the ambition to convince and spread the wo...Billions of government dollars, and thousands of charitable organizations and NGOs, are dedicated to helping the world's poor. But much of their work is based on assumptions that are untested generalizations at best, harmful misperceptions at worst.
Abhijit Banerjee and Esther Duflo have pioneered the use of randomized control trials in development economics. Work based on these principles, supervised by the Poverty Action Lab, is being carried out in dozens of countries. Drawing on this and their 15 years of research from Chile to India, Kenya to Indonesia, they have identified wholly new aspects of the behavior of poor people, their needs, and the way that aid or financial investment can affect their lives. Their work defies 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.
This important book illuminates how the poor live, and offers all of us an opportunity to think of a world beyond poverty.
Learn more at www.pooreconomics.com
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