Good economics for hard times
Nobel laureate Esther Duflo
There is no formula for making a country prosperous
Nobel laureate Esther Duflo is skeptical about single, decisive measures. She has used field trials in developing countries to study how to reduce poverty. Her research has improved the lives of 540 million people. On June 20, 2022, Nobel laureate Esther Duflo and her husband Nobel laureate Abhijit Banerjee presented their book 'Good Economics for Hard Times' at a UBS Center Opinions event in Zurich. This interview was conducted by NZZ journalists Christoph Eisenring and Thomas Fuster in the course of the event.
This summary is part of a compilation of speeches delivered by Nobel laureates at UBS Center events. We invite you to explore our Nobel Opinions and find out more about their research, their vision, and their solutions to address some of the most pressing issues of our time.
Nobel laureate Esther Duflo is skeptical about single, decisive measures. She has used field trials in developing countries to study how to reduce poverty. Her research has improved the lives of 540 million people. On June 20, 2022, Nobel laureate Esther Duflo and her husband Nobel laureate Abhijit Banerjee presented their book 'Good Economics for Hard Times' at a UBS Center Opinions event in Zurich. This interview was conducted by NZZ journalists Christoph Eisenring and Thomas Fuster in the course of the event.
This summary is part of a compilation of speeches delivered by Nobel laureates at UBS Center events. We invite you to explore our Nobel Opinions and find out more about their research, their vision, and their solutions to address some of the most pressing issues of our time.
Opinions: Good economics for hard times
How can we alleviate inequality and poverty? This is the core question that Abhijit Banerjee and Esther Duflo have been addressing for years and the motivation behind their extensive research. Equipped with a broad experience in the field of development economics and the latest scientific findings, they dare to tackle the big questions of our time and are not afraid to bring up uncomfortable topics. In 2022, we once again had the pleasure of welcoming them as guests at the UBS Center Opinions event series.
In front of a packed auditorium, Nobel laureates Esther Duflo and Abhijit Banerjee presented key lessons from their latest book 'Good economics for hard times', providing a new perspective of policy debates that are shaping the discourse on today’s most pressing global problems, such as increasing inequality or climate change. They like to compare their applied approach to helping address such big issues to the work of plumbers. By this they mean that it is the job of economists to identify the hidden details in complex problems and thereby provide policy makers with a better basis for decision making. In this way, hopefully, the worldwide declining confidence in economists as well as in governments can be rebuilt step by step.
How can we alleviate inequality and poverty? This is the core question that Abhijit Banerjee and Esther Duflo have been addressing for years and the motivation behind their extensive research. Equipped with a broad experience in the field of development economics and the latest scientific findings, they dare to tackle the big questions of our time and are not afraid to bring up uncomfortable topics. In 2022, we once again had the pleasure of welcoming them as guests at the UBS Center Opinions event series.
In front of a packed auditorium, Nobel laureates Esther Duflo and Abhijit Banerjee presented key lessons from their latest book 'Good economics for hard times', providing a new perspective of policy debates that are shaping the discourse on today’s most pressing global problems, such as increasing inequality or climate change. They like to compare their applied approach to helping address such big issues to the work of plumbers. By this they mean that it is the job of economists to identify the hidden details in complex problems and thereby provide policy makers with a better basis for decision making. In this way, hopefully, the worldwide declining confidence in economists as well as in governments can be rebuilt step by step.
Video I
Opinions: Poor Economics
Their famous book 'Poor Economics: A radical rethinking of the way to fight global poverty', published in 2011, is radical in its rethinking of the economics of poverty, but also entirely practical in the suggestions it offers. In 2017, more than 400 people attended Banerjee’s and Duflo’s lecture at the University of Zurich where they shared new insights from numerous research projects conducted all around the world.
Their famous book 'Poor Economics: A radical rethinking of the way to fight global poverty', published in 2011, is radical in its rethinking of the economics of poverty, but also entirely practical in the suggestions it offers. In 2017, more than 400 people attended Banerjee’s and Duflo’s lecture at the University of Zurich where they shared new insights from numerous research projects conducted all around the world.
Video II
How can we reduce inequality?
Inequality opportunities, and development is a subject area that encompasses numerous current social issues. How can we reduce inequality! What are the causes of social and economic inequality? How can we creat opportunities for women in the labor market? What measures help to combat inequality developing countries?
Inequality opportunities, and development is a subject area that encompasses numerous current social issues. How can we reduce inequality! What are the causes of social and economic inequality? How can we creat opportunities for women in the labor market? What measures help to combat inequality developing countries?
UBS Nobel Perspectives
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in Economic Sciences to ask them to share insights, discuss their research, and open their inquiring minds.
Explore the interview with Esther Duflo who talks about her research and elaborates on the question of whether inequality in economics is beginning to shift.
To help address the big questions that shape our world, UBS has sought out a number of Nobel laureates in Economic Sciences to ask them to share insights, discuss their research, and open their inquiring minds.
Explore the interview with Esther Duflo who talks about her research and elaborates on the question of whether inequality in economics is beginning to shift.
Speaker
Esther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics in the Department of Economics at the Massachusetts Institute of Technology and a co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL). In her research, she seeks to understand the eco- nomic lives of the poor, with the aim to help design and evaluate social policies. She has worked on health, education, financial inclusion, environment, and governance. Duflo has received numerous academic honors and prizes including 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (with co-Laureates Abhijit Banerjee and Michael Kremer).
Esther Duflo is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics in the Department of Economics at the Massachusetts Institute of Technology and a co-founder and co-director of the Abdul Latif Jameel Poverty Action Lab (J-PAL). In her research, she seeks to understand the eco- nomic lives of the poor, with the aim to help design and evaluate social policies. She has worked on health, education, financial inclusion, environment, and governance. Duflo has received numerous academic honors and prizes including 2019 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (with co-Laureates Abhijit Banerjee and Michael Kremer).