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Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics , Abhijit V. Banerjee and Esther Duflo, two practical visionaries working toward ending world poverty, answer these questions from the ground. In a book the Wall Street Journal called marvellous, rewarding," the authors tell how the stress of living on less than 99 cents per day encourages the poor to make questionable decisions that feed,not fight,poverty. The result is a radical rethinking of the economics of poverty that offers a ringside view of the lives of the world's poorest, and shows that creating a world without poverty begins with understanding the daily decisions facing the poor.
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.