Economics is changing: A Nobel for 3 pragmatic poverty-fighters shows that

A popular conception of economists is that they're the high priests of the free market, downplaying the role of government and giving short shrift to the needs of society's poorest

1571088568-0468

International news: This year’s economics Nobel prize went to three worthy economists — Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology, and Michael Kremer of Harvard University. The prize, which was awarded “for their experimental approach to alleviating global poverty,” shows several important ways that the economics discipline is changing.

A popular conception of economists is that they’re the high priests of the free market, downplaying the role of government and giving short shrift to the needs of society’s poorest. A great many economists defy this stereotype, spending their careers studying how to uplift the poorest citizens of the developing world through government action. Banerjee, Duflo and Kremer fall into this category.

For example, all three have studied the benefits of education. Citizens of developed countries generally take universal public education for granted, along with the economic wealth that an...read more

Comments

Post a Comment

Popular posts from this blog

Brazil govt open to foreign aid for fighting Amazon fires: Spokesman

Image
The essential point is that this money, on entering Brazil, will be under the control of the Brazilian people An aerial view shows smoke rising over a deforested plot of the Amazon jungle in Porto Velho, Rondonia State, Brazil, in this August 24, 2019 picture taken with a drone.   Amazon rainforest : Brazil will accept foreign aid to help fight fires in the Amazon rainforest on the condition that the Latin American country controls the money, the president's spokesman said Tuesday. "The Brazilian government through President (Jair) Bolsonaro is open to receiving financial support from organizations and even countries," Otavio Rego Barros told reporters. "The essential point is that this money, on entering Brazil, will be under the control of the Brazilian people.
Read more

Will have a good time with Modi, says Trump before leaving for Houston

Image
The 90-minute music, dance, and multimedia show features close to 400 artists and community members from Texas and across the nation Howdy Modi : Looking forward to address 'Howdy, Modi' rally in Houston, US President Donald Trump said on Sunday that he and Prime Minister Narendra Modi will have a good time at the mega event. "We'll be going to Houston and we'll be at a very nice big stadium packed full of people with Prime Minister Modi," Trump told reporters on the South Lawns of the White House before he left for Houston, where he and Modi would address over 50,000 Indian-Americans. "He (Modi) asked if I would go with him and I've accepted and We're going to have a good time," Trump said minutes before he boarded Marine One from the White House lawns... read more
Read more

300 sixes and counting: Gayle achieves another swashbuckling feat in IPL

Image
South Africa's AB de Villiers (192 sixes) is the second batsman on the list of most number of sixes Sports News :  Chris Gayle, the West Indies left-handed batsman on Saturday became the first player in the Indian Premier League (IPL) to smash over 300 sixes in the tournament as he scored a quickfire knock of 40 runs for his team Kings XI Punjab against the Mumbai Indians. Gayle struck four sixes during his 24-ball knock to set up a successful run chase for Punjab who were able to defeat Mumbai Indians by eight wickets. The left-hander as a result of his four sixes took his sixes count to 302 in 114 innings in the IPL. Gayle hit two back-to-back sixes against Mumbai Indians pacer Mitchell McClenaghan to achieve this feat at Mohali. → Read our full coverage on  IPL 2019  ← South Africa's AB de Villiers is the second batsman on the list of most number of sixes. He has a total of 192 sixes in 131 IPL innings whereas Chennai Super Kings skipper MS Dhoni is on the...
Read more