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Poor Economics: rethinking poverty And the ways to end it (English)

(Hardcover)
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Hardcover
Author: Abhijit V. Banerjee, Esther Duflo
Language: English
Length: 320 pages
Publisher: Random House India
Rs. 499 15% OFF
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Poor Economics: Rethinking Poverty And The Ways To End It is a book that shows its readers a whole new approach to tackling poverty.


Summary Of The Book

Governments, NGOs, and various other organizations have been working for a long time to find ways to improve the living conditions of the poor and end poverty. But, according to the authors of this book, the conventional approaches are based on generalizations and misconceptions.


For around fifteen years, the authors have conducted field research in many places around the world, studying the financial habits of the poor. They have come up with many surprising findings that provide new insights into the lifestyles and the spending choices of the economically weaker section.


The authors post an interesting analysis when they raise the question of whether there really are a billion hungry people, as many aid agencies claim. They do not actually dispute the numbers or the reality of the problem of hunger, but just point out the interesting choices that poor people make when offered aid in one way or another.


Duflo and Banerjee provide some interesting examples and situations to drive home their point. For instance, the authors point out that in many areas, the poor could spend around 30% more on food if they cut down on expenditures like tobacco and alcohol. They also point out that when people, even the poor, buy food, what drives their choices is not more calories, but taste and variety.


As an example they explain what happened when people in a few regions in China were offered rice or wheat noodles at subsidized rates. The authors found that these people were eating less of these foods and were actually spending more on meat and shrimp.


They also point out some interesting facts about the credit choices of the poor. For instance, in Chennai, fruit sellers buy INR 1000 worth of fruit on credit from the wholesalers and pay it back at the end of the day with an interest of 4.69%. This works out to a mind boggling interest rate per year.


Even when micro-finance loans are available at reasonable interest rates, many people prefer to borrow cash from traditional money-lenders at higher rates. This is because money-lenders offer flexible choices on when the repayment starts and on how the repayments are made.


In this vein, the book highlights many interesting facts that provide new insights on what drives the spending habits of the poor. Poor Economics: Rethinking Poverty And the Ways to End It defines a different perspective on what actually defines poverty and can help in coming up with new ways to tackle it.


About The Authors

 

Abhijit Banerjee is an economist and he is currently the International Professor of Economics at the Ford Foundation at MIT.


Some of his other publications are Aging And Death Under A Dollar A Day, What Is Middle Class About The Middle Classes Around The World?, and The Experimental Approach To Development Economics.


He was born in Kolkata, India in February 1961. He won the inaugural Infosys Prize in Social Sciences and Economics.


Esther Duflo is co-founder of the Abdul Latif Jameel Poverty Action Lab.


Her only book with Abhijit Banerjee is Poor Economics: Rethinking Poverty And The Ways To End It.


She is currently the professor of Development Economics at MIT. She has received many awards, including the John Bates Clark Medal.

Specifications of Poor Economics: rethinking poverty And the ways to end it (English) (Hardcover)

Book Details
Publisher Random House India
ISBN-10 8184001819
Number of Pages 320 Pages
Publication Year 2011
Language English
ISBN-13 9788184001815
Binding Hardcover
Contributors
Author Info Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society and has been a Guggenheim Fellow. He has also received the inaugural Infosys Prize (2009) in Social Sciences and Economics.

Esther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at MIT. Duflo has received numerous academic honours and prizes including most recently the John Bates Clark Medal (2010) and a MacArthur Fellowship (2009). She has also been featured in Foreign Policy?s Top 100 Global Thinkers and Fortune?s 40 under 40.
Author Abhijit V. Banerjee, Esther Duflo

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Reviews of Poor Economics: rethinking poverty And the ways to end it (English) (Hardcover)

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★★★★★
★★★★★

Priy Anjali

Aug 3, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Great

This book made me realize what poverty really is. It is a great buy for those who want to understand about poverty. Flipkart delivery was super fast. I received the book within 3 days of order.
★★★★★
★★★★★

Rakshit Agrawal

Apr 5, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

One of the best book for Global development

This is probably the best book to read if you're interested in global development. It removes the problem of rigid perspectives while thinking on economics for the poor. Moreover, it establishes very well described relations between multiple factors driving economics for the poor and highlights the … (View complete review)
★★★★★
★★★★★

Subhangkar Banik

Feb 20, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Its different

A book that will change the normal thought process that we have. It gives a different perspective of poverty around the word and how what kind of instruments have yielded different results and the probably reasons behind them
★★★★★
★★★★★

Sairam Subramaniam

Jul 4, 2013

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

A good book for people who are curious on ways to end poverty

I bought the book. The book was promptly delivered and well packed. The book was worth it and I enjoyed reading it. It describes all the small experiments and interviews of people who are economically challenged in various countries like India, Bangladesh etc. and then throws simple yet profound in… (View complete review)
★★★★★
★★★★★

Vinay Kumar Pandey

May 30, 2013

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Good Read !!

This one is devoid of any jargon or extraordinarily amazing conclusions derived by interesting applications of economics ( ala Freakonomics ) ,and this is what makes this book very special . The young economists have done a commendable job . Each chapter is based on a single theme like Health , Micr… (View complete review)

Top reviews

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★★★★★
★★★★★

Vinay Kumar Pandey

May 30, 2013

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Good Read !!

This one is devoid of any jargon or extraordinarily amazing conclusions derived by interesting applications of economics ( ala Freakonomics ) ,and this is what makes this book very special . The young economists have done a commendable job . Each chapter is based on a single theme like Health , Microfinance . But do not get bothered as there is not a single thing that a commoner may not understand . Really simple and to the point. Infact the problems described and solutions are so intutive and simple that they appear almost obvious .
Must read for people who want to see into the world and …
★★★★★
★★★★★

Umesh Pherwani

May 17, 2013

First to review

well researched book with lots of relevations of how and why the poor lead their lives the way they do.

This book appears to be well-researched book on the lives on the poor.By examining and detailing their lives it becomes and bit easy to decide their needs , their limitations and weakness and programs can be tailored with them in mind .
It is a must read for people who make policies for the poor , the micro finance people who can fine tune their lending policies accordingly to the research done by the authors.
I bought the book on in basically two aspects : it been known already in the market and by its theme "rethinking poverty and the ways to end it " and it came out to be the right …
★★★★★
★★★★★

AMIN ALI

May 22, 2012

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

great outlook at poverty

my first economic study and man it gave me so many ideas already. a budding social activist myself laid hands on this book by merely reading the other reviews and this did nothing but add passion of fighting against poverty. it showed my methods i had practiced observing others earlier, how good they were, how bad they were, what it would do to some and how poverty is sold. to sum it, the provided ideas were researched for a number of years too to give us radical thoughts.
★★★★★
★★★★★

Ankur Sooden

Nov 20, 2011

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Economics and Poverty Alleviation---simplified and demystified

The book is an awesome compilation of painstaking research and shows how small, simple ideas have more power to make our world a better place than grand generalistic theories. Must read for everyone in the development sector.
★★★★★
★★★★★

Priy Anjali

Aug 3, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Great

This book made me realize what poverty really is. It is a great buy for those who want to understand about poverty. Flipkart delivery was super fast. I received the book within 3 days of order.
★★★★★
★★★★★

Rakshit Agrawal

Apr 5, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

One of the best book for Global development

This is probably the best book to read if you're interested in global development. It removes the problem of rigid perspectives while thinking on economics for the poor. Moreover, it establishes very well described relations between multiple factors driving economics for the poor and highlights the differences from general economics.
★★★★★
★★★★★

Subhangkar Banik

Feb 20, 2014

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Its different

A book that will change the normal thought process that we have. It gives a different perspective of poverty around the word and how what kind of instruments have yielded different results and the probably reasons behind them
★★★★★
★★★★★

Sairam Subramaniam

Jul 4, 2013

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

A good book for people who are curious on ways to end poverty

I bought the book. The book was promptly delivered and well packed. The book was worth it and I enjoyed reading it. It describes all the small experiments and interviews of people who are economically challenged in various countries like India, Bangladesh etc. and then throws simple yet profound insights on what went wrong or right in the schemes going to the root causes. The overall theme of the book is to inspire people on thinking what approach to poverty reduction would be effective. The people concludes - it is always a mix of approaches and the most effective way is to start or continue…
★★★★★
★★★★★

siva kumar

Apr 8, 2013

The 'certified buyer' badge indicates that this user has purchased this product on flipkart.com.
certified buyer

Must read

Those who work in development sector for empowerment of people - This book is Must read to understand the Human nature influence on their decisions of why, what and how to meet their basic needs in developing countries.
★★★★★
★★★★★

Parashar Dave

Dec 2, 2012

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certified buyer

Perfectly indicates the contents

It is a very good narrative incorporating the studies based on behavioral science. It is a very good help not only for readers but also for those who are into Philanthrophy. It conducts an excellent research on behavior of the poor and brings out the ways through which you CANNOT help them. Excellent empirical record!!!!!!!!!
 

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