Poor Economics

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." 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." 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." "Their empirical approach differs from policy discussions that base support or criticism of aid programs on a broad overview; instead they illuminate many practicable and cost-effective ways to keep children and parents living healthier and more productive lives. An important perspective on fighting poverty." The Guardian, June 6, 2011 "Duflo and Banerjee tell these stories (of their randomised control trials) in a lovely new book called Poor Economics. As they admit, randomistas cannot answer some big questions -- how to tackle food prices, for instance. But through lots of microstudies, they make a subtle case for one big argument: aid really can help poor people, provided the money follows the evidence." Vancouver Sun, June 11, 2011 "This new book by Abhijit Banerjee and Esther Duflo eschews the ideology of both the right and the left, and focuses on what measurable evidence has to say about the often-conflicting myths that dominate discussion of international development. The book is unusual, perhaps unique, in that the authors took a lot of time to talk to poor people about what they think and what they want." Seth Godin (blog),June 15, 2011 "Fact-based, actionable and totally unforgettable insights on the fight to help the poor help themselves." Business World (India) 7/30 "Banerjee and Duflo assemble a fascinating assortment of interventions from across the globe in their book and they use the sharply differing perspectives of Sachs, who leads the "supply wallahs" (

Abhijit Vinayak Banerjee is the Ford Foundation International Professor of Economics at MIT. He is the recipient of many honours and awards, including most recently the inaugural Infosys Prize in 2009, and has been an honourary advisor to many organizations including the World Bank and the Government of India. Esther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at MIT. She is a recipient of the MacArthur"genius award (2009) and the John Bates Clark medal awarded annually to the best American economist under forty (2012). In 2003, Banerjee and Duflo cofounded the Abdul Latif Jameel Poverty Action Lab (J-PAL), which they continue to direct.