Good Economics for Hard Times: Better Answers to Our Biggest Problems

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AuthorAbhijit V Banerjee
PublisherPublic Affairs
PublishedAug 01 2019
Book FormatAudio
ISBN-139781549128837
Dimensions6.1 X 6.6 X 1.2 inches
Weight 0.8 pounds
BISAC
CategoriesBusiness & Economics > Economics - Macroeconomics
LanguageEnglish

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Book Description

Two prize-winning economists show how economics, when done right, can help us solve the thorniest social and political problems of our dayThe experience of the last decade has not been kind to the image of economists: asleep at the wheel (perhaps with the foot on the gas pedal) in the run-up to the great recession, squabbling about how to get out of it, tone-deaf in discussions of the plight of Greece or the Euro area; they seem to have lost the ability to provide reliable guidance on the great problems of the day.In this ambitious, provocative book Abhijit V. Banerjee and Esther Duflo show how traditional western-centric thinking has failed to explain what is happening to people in a newly globalized world: in short Good Economics has been done badly. This precise but accessible book covers many of the most essential issues of our day--including migration, unemployment, growth, free trade, political polarization, and welfare. Banerjee and Duflo will confound and clarify the presumptions of our times, such as: Why migration doesn't follow the law of supply and demandWhy trade liberalization can drive unemployment up and wages downWhy macroeconomists like to bend the data to fit the modelWhy nobody can really explain why and when growth happensWhy economists' assumption that people don't change their minds has made has made polarization worseWhy quite often it doesn't take a village, especially if the villagers aren't that niceIn doing so, they seek to reclaim this essential terrain, and to offer readers an economist's view of the great issues of the day--one that is candid about the complexities, the zones of ignorance, and the areas of genuine disagreement

Author Bio

Abhijit Vinayak Banerjee is the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology. In 2003 he co-founded the Abdul Latif Jameel Poverty Action Lab (J-PAL) with Esther Duflo and Sendhil Mullainathan, and he remains one of the Lab’s Directors. Banerjee is a fellow of the National Academy of Sciences, the American Academy of Arts and Sciences and the Econometric Society. He is a winner of the Infosys Prize a co-recipient of the 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for his groundbreaking work in development economics research.

Abhijit is the author of a large number of articles and five books, including Poor Economics, which won the Goldman Sachs Business Book of the Year, and Good Economics for Hard Times, both co-authored with Esther Duflo. He is the editor of three more books and has directed two documentary films. Banerjee has served on the U.N. Secretary-General’s High-level Panel of Eminent Persons on the Post-2015 Development Agenda. He is a trustee of Save the Children USA and the Chair of the Global Education Evidence Advisory Panel and the Global Advisory Board for Covid-19 Response of the government of West Bengal.

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