Poor Economics: Understanding the Desires and Choices of the Poor
In their new book Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty, MIT Professors Esther Duflo and Abhijit Banerjee ask questions like “Why do the poorest people in the Indian state of Maharashtra spend 7 percent of their food budget on sugar?” and “Does having lots of children actually make you poorer?” Meanwhile, poverty continues to cripple India and other developing countries, and debates persist on who constitutes the poor and how they may be helped. How can we hope to alleviate poverty on a large and sustainable scale? How can a better understanding of poverty reshape policies and business models to improve their impact?
Join the authors in a discussion with Omkar Goswami, Founder and Chairman of Corporate & Economic Research Group (CERG) Advisory Private Limited, and Krishan Sree Kumar, CEO of Intellecap.
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Esther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at MIT. Duflo has received numerous academic honours and prizes including most recently the John Bates Clark Medal (2010) and a MacArthur Fellowship (2009). She has also been featured in Foreign Policy's "Top 100 Global Thinkers" and Fortune's "40 Under 40."
Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT. He is a fellow of the American Academy of Arts and Sciences and the Econometric Society and has been a Guggenheim Fellow. He has also received the inaugural Infosys Prize (2009) in Social Sciences and Economics.
Omkar Goswami is the Founder and Chairman of CERG Advisory Private Limited, and serves as in Independent Director at Infosys. He has also been editor of Business India and Chief Economist of Confederation of Indian Industry. He has served on several government committees, including the the Vijay Kelkar Committee on Direct Tax Reforms, and the N.R. Narayana Murthy SEBI Committee on Corporate Governance Reforms. He has been a consultant to the World Bank, the International Monetary Fund and the Asian Development Bank, among others.
Krishan Sree Kumar is the CEO of Intellecap, a social enterprise investment and advisory firm. His experience includes working with development finance institutions, the financial services industry, water and energy utilities, governments undergoing reform and donor agencies. He has also worked on public sector reform in Africa and Eastern Europe, and poverty reduction strategy papers.
This programme is part of the BusinessAsia series, which highlights new developments and best practices in the corporate and economic world that bolster notions of corporate citizenship, including engaged leadership, innovation and corporate social responsibility.
In partnership with BSE Ltd. and Intellecap