Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,000+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Poor Economics summary
Abhijit V. Banerjee and Esther Duflo
A Radical Rethinking of the Way to Fight Global Poverty
16 mins
Brief summary
Poor Economics by Abhijit V. Banerjee and Esther Duflo explores the lives of the poor, offering new insights on poverty alleviation through randomizedcontrol trials and data analysis.
Table of Contents
Poor Economics
Summary of 10 key ideas
Audio & text in the Blinkist app
Key idea 1 of 10
Economists seek general solutions to global poverty, but these don’t deal with the problem effectively.
It’s a sad fact: poverty causes millions of deaths every year. Equally sad is the fact that we have yet to find an effective solution to this devastating problem.
One of the reasons might be that economists dealing with the problem tend to look at it in the wrong way, focusing too much on “big” economic questions like, “Do developing countries need more or less help from outside in order to grow?”
Such general questions tend to generate ineffective debate.
One camp argues for more development aid to get these countries on track, as they’re not able to do so on their own. Economist Jeffrey Sachs claims that if rich countries would spend $195 billion per year on development aid, in 20 years (i.e., by 2025), poverty would be eradicated.
Then there’s the other camp, which emphasizes the negative consequences and ineffectiveness of outside interventions, claiming that it’s more helpful to leave developing countries alone.
Clearly, it’s difficult to come up with a conclusive answer to such a general question. Moreover, debating it does nothing to solve the problem of poverty.
Of course, some countries appear to prove the effectiveness of development aid. For example, following the Rwandan Genocide, Rwanda received a lot of money and their economy subsequently boomed. However, the situation’s complexity renders it impossible to know for certain whether Rwanda’s success was due to the aid or to other factors.
Furthermore, a single case isn’t enough to prove a theory’s accuracy: data from over 100 countries suggests that those that had received aid didn’t grow anymore than those that didn’t.
Both of these arguments are manifestations of an economic reasoning that looks at the problem of poverty in the wrong way. And, in the end, such arguments will not help to solve it.
Rather than spending time and energy on considering these big questions, it’s more useful to look more closely at specific measures and to evaluate why they do or do not work.
Want to see all full key ideas from Poor Economics?
Key ideas in Poor Economics
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is Poor Economics about?
Poor Economics (2012) is investigating some of the biggest challenges poor people face. This book provides the reader with an understanding of why there still is so much poverty in the world, and why many of the measures usually implemented do not help. Based on these insights, the authors offer a number of concrete suggestions to demonstrate how global poverty might be overcome.
Poor Economics Review
Poor Economics (2011) is a thought-provoking book that delves into the world of poverty and offers a fresh perspective on fighting global poverty. Here's why this book is worth reading:
- With real-life case studies and extensive research, it provides a deep understanding of the challenges faced by the poor and offers practical solutions.
- Challenging conventional wisdom, the book uncovers the complexities of poverty and explores the effectiveness of different interventions and policies.
- By presenting poverty as a multi-dimensional problem, the book keeps readers engaged, ensuring that it is anything but boring.
Who should read Poor Economics?
- Anyone who wants to know why global poverty is so persistent and how we can reduce it
- Anyone interested in development economics
- Anyone interested in development politics
Categories with Poor Economics
Book summaries like Poor Economics
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
31 Million
Downloads on all platforms
10+ years
Experience igniting personal growth
Poor Economics FAQs
What is the main message of Poor Economics?
The main message of Poor Economics is that understanding the poor requires studying their lives and behavior up close.
How long does it take to read Poor Economics?
The reading time for Poor Economics varies depending on the reader, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Poor Economics a good book? Is it worth reading?
Poor Economics is worth reading as it offers deep insights into the lives of the poor and presents practical solutions for poverty alleviation.
Who is the author of Poor Economics?
Poor Economics is authored by Abhijit V. Banerjee and Esther Duflo.
What to read after Poor Economics?
If you're wondering what to read next after Poor Economics, here are some recommendations we suggest:
- Adaptive Markets by Andrew W. Lo
- The Upside of Your Dark Side by Todd Kashdan and Robert Biswas-Diener
- Elevate by Joseph Deitch
- Millennial Money Makeover by Conor Richardson
- Words on the Move by John McWhorter
- Maps of Meaning by Jordan B. Peterson
- Fast. Feast. Repeat. by Gin Stephens
- Buddhism – Plain and Simple by Steve Hagen
- When Genius Failed by Roger Lowenstein
- Workstyle by Lizzie Penny and Alex Hirst