Summary of Poor Economics

A Radical Rethinking of the Way to Fight Global Poverty

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Poor Economics book summary
Could you live on 99 cents a day? Millions do. Discover how to change that, one small step at a time.

Rating

9 Overall

10 Importance

8 Innovation

7 Style

Recommendation

After decades of effort, billions of dollars, thousands of aid workers and hundreds of antipoverty programs, 865 million people still barely survive on the equivalent of less than a dollar a day. But that can change, one small clinic, one incentive and one schoolroom at a time according to this eye-opening work – The Financial Times/Goldman Sachs’ business book of the year for 2011. Authors and MIT economic researchers Abhijit V. Banerjee and Esther Duflo report field-tested experiments showing that lifting the world’s poor into a more comfortable, productive life is possible, mostly with relatively simple changes, not masses of money. They call for understanding the human behaviors and motivations that drive all people, rich and poor alike, and apply that understanding to solving the seemingly overwhelming, intractable problem of global poverty. getAbstract strongly recommends this highly accessible yet scientific account of how to make life better for millions of people, while enabling the poor to contribute to the world’s economic and social progress.

In this summary, you will learn

  • How the “poverty trap” enslaves hundreds of millions of people
  • Why even small changes can have an outsized impact on reducing poverty
  • How field experiments in behavior and motivation led to improvements in the lives of the poor
 

Summary

“99 Cents Per Day”
The problem of global poverty appears both overwhelming and intractable. Despite massive amounts of foreign and domestic aid, enough food production to feed everyone on the planet, and medical and technical advances that can save lives and advance some populations from...
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About the Authors

Abhijit V. Banerjee and Esther Duflo teach economics at the Massachusetts Institute of Technology and direct the Abdul Latif Jameel Poverty Action Lab, which is dedicated to lessening poverty through research-based efforts.


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    Olga Voloshenko 4 years ago
    This book could be of very high importance for the "decision-makers of the world" especially if those people are indifferent to other's people sufferings and are trying to solve the problems on the world-wide level. The main problem of course lies in the natural resource decreasing, thus the whole amount of clear water, air and food should be managed in very proper way, as somebody's private asset, asset for the future of our children.
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    Haike Schattka 5 years ago
    Dear Mr. RAGHAV,
    Thank you for your comment. With the Silver subscription, you only get a limited number of downloads. If you want unlimited access to the summaries in the getAbstract library, you can upgrade to our Gold subscription: http://tiny.getabstract.com/Upgrade

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    I hope this helps. Please don't hesitate to contact us if you have questions.

    Haike Schattka (getAbstract)
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    R S RAGHAV 5 years ago
    I am not able to down load today ps look into the issue

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