Poor Economics by Abhijit Banerjee & Esther Duflo

This book is a rarity, it might not be most prolific book discussed on any business platform nor its’ meant for the eager business student. However, what makes the book sparkle is the kindness that blossoms through, making a pitch for the reasons why poverty perpetuates in the world. Loaded with hard facts and figures, the authors go about peeling the problems at hand, more like deciphering a puzzle to make the readers understand, the overlooked factors that needs to be given adequate attention to make their argument eloquent. The main focus of the book is on poverty traps, which big profile authors in the domain attribute poverty to. In theory, the phenomenon is a self-perpetuating array of factors that make the poor experience to pave way for a depreciating and at times stagnating lifestyle. The interventions suggested in the book are tried and tested means, but are backed by appropriate reasoning; facts and figures. One such example is about distributing short-term social services for Free or with heavy subsidy. Often, it is observed that social services are not utilised due to misinterpreted perception in the social context. Such interventions seek to break the skewed perception, however, again as with all other human experiences, it is loaded heavily towards inconsistencies. Women in one part of the world might react differently to such intervention in the social domain. Overall, the book subtly acknowledges the presence of poverty traps, but the intervening social actors, do not exactly seem to know, where to put the ladders in the first place. They do disapprove demand based development approach in social sector, but development in their view are precipitated from small ‘nudges’ and ‘pushes’ at appropriate places to encourage people act in their best interest, rather being pushed into it. This book and other business books are available on the online shopping website, homeshop18. Buy book online – Poor Economics – for Rs.364, with 27% off on MRP. Avail Free Shipping on all book purchases from the online shop – homeshop18.