Review of 'Poor Economics' - Ella
Poor economics is a long-term research project undertaken and written up by Abhijit V. Banerjee and Esther Duflo. It outlines the “surprising truth about life on less than $1 a day”. The authors outlined 5 key lessons that emerged from their lengthy research. Firstly, the poor often lack critical pieces of information and believe things that are not true. An example of this is not knowing how much fertilizer to use, therefore using twice as much, eating into their already small profit margins. Uncertainty about knowledge such as the benefits of vaccinations leads to procrastination hence a large percentage of the population are not immunized. Their conclusion to combat this was information campaigns that: say something people don’t already know, are in a simple attractive fashion, and must come from a credible source. Secondly, the poor bear responsibility for too many aspects of their lives. The poor don’t have access to government cleaned and chlorinate...