with an ‘Alternative Revolution: The way to abolish Poverty’. In an advanced capitalist world, Banerjee and Duflo have again taken Marx’s political economy question about poverty and rights, but it has been answered in a very pragmatic way, i.e. In earlier times, the ‘enlightenment theorists’ like Smith, Condorcet, Bentham, Wollstonecraft, Marx, Mill and in present time Sen have applied the same ‘Comparative’ approach in their tenets. The book is divided into two parts: the first part is ‘Private Life’ and the second part is ‘Institution’.Banerjee and Duflo have expressed about the private life of poor people with the institution’s causation – how we can transform the grassroots reality of our society by managing the institution (behaviour, influence and result) and simultaneously, the book has denied the ‘Transcendental Institutionalism’ way. This book does not simply provide an analysis of poverty but also delivers the solutions for it, and these described solutions terminate the gap between intention and implementation. And in the 21st century, Banerjee and Duflo’s Nobel Prize winner book Poor Economics has given parsimonious answers. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.” Similarly, the famous Bengali Novelist Bankim Chandra Chattopadhyay has also written in his eminent novel ‘Anandamath’ that ‘the Bengal’s poor people have sold their daughter, son and wife for their poverty compulsion.’ Whether it is rural Bengal or urban Britain, poverty is a pompous question. In 2003 Abhijit Vinayak Banerjee and Esther Duflo both co-founded the Abdul Latif Jameel Poverty Action Lab (J-PAL).īritain’s Charles Dickens’ exceptionally famous novel ‘David Copperfield’s character Mr Micawber asserted that “Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. She has received numerous academic honours and prizes, including the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (with co-Laureates Abhijit Banerjee and Michael Kremer). Besides working on the economic lives of the poor, her research area includes health, education, financial inclusion, environment and governance. In addition, he has written several path-breaking books on poverty and ground related issues, including Poor Economics.Įsther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics in the Department of Economics at the Massachusetts Institute of Technology. He is also a co-recipient of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his ground-breaking work in development economics research. Sloan Fellow and a winner of the Infosys Prize. He has been a Guggenheim Fellow, an Alfred P. Source: Department of Global Health, University of WashingtonĪbhijit Vinayak Banerjee is the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology.
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