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I read their book, the poor economics, It is very interesting, by reading this book you will discover new thoughts on how actually poverty impact on the society .
Free trade and free enterprise free market capitalism is the only thing that works, all this leftist charity aide scheme crap NEVER worked. Such tinsel prizes are western imperialist elite's way of fooling the masses.
So it's humans that figured out the learning process and not the algorithm. But now we can use technology to implement it. imagine how many children can end up thinking like Esther.
Where is the implementation of their theories? In india millions of poor people exist though it has the 4th highest GDP. THE rich becomes richer and corrupted officials become kings. The middle class toils hard and earns ..the poor remains poor.
The poor on average are way richer than poor 30 years ago. Rich are also richer. Since it's a multiplicative, rich has grown millions for every new dollar of the poor, making it look more unfair and creating the hugest disparity in wealth humanity has ever seen. Implementation is happening, though on pretty small scale as of now. World bank programs and regional investment banks, just as national and international financial aid flows are pretty rigid and opposed to change overall, because helping the poor is sadly not always the most important goal. Luckily, transparency of the world is growing, so stakeholders (in case of banks and private funds) and citizens (in case of countries) starting to get a say in things, so greedy bourgeois and cleptocrates are at least trying to appear as if they are helping, and not just saying or posing.
No implementation. These are only big words, empty slogan, nothing else. Economic psychology is not new. Their methods are standards methods in psychology. What are the benefits? Nothing at all.
@Truthfears Guilty I'm not indian, so no idea about how it is now comparing to the rest of the world. Still, despite the beginning of your comment I don't see anything in your words that contradicts what I've said.
@Truthfears Guilty I'm from europe though, so no idea about your region apart from the most basic facts. My country has over 20% poverty while being in top3 by the number of dollar billioners, so I know the difference in lifestyles of rich and poor firsthand. Also, where exactly is contradiction? Absolute wealth disparity between 1st and 10th decile is growing extremely fast indeed, while relative is slower cuz poor are also living better on average.
These theories get implemented only if the government embrace the same. We also need a leader who understands economics. Only marketing doesn't help the economy, just that the bottom-line takes a hit.
Was rubbish then, is rubbish now. Free trade free enterprise and industrialization and mass manufacturing has lifted billions out of poverty, but such poverty economics and poverty politics only help perpetuate poverty using charity and aide to subvert what really works - trade and industry. I ignored them then, will ignore them now.
@@edwardkumarkenway1875 & Akash Bose etc. Barking BHAKT BHAKT at people is not a logical argument dear. Indian economy is certainly not behind Bangladesh. The fake numbers are crap. India has done some good reforms under Modi which western imperialist deep states do not want, as they want india to be kept deindustrialized and buying goods from them all the time. The global economic and manufacturing processes and societal demands for nature of products is fast changing. Demand for cars is down sharply all over the world due to Ola Uber and better public transportations. (you should be happy huh as that is good for the environment huh? ) But you do not like its effect on the auto sector , so blame MODI huh? IDIOTS. India economy is at 6% growth which is better by far than Bangladesh whose textile sector has shifted to india due to ease of doing business. Next you'll be blaming demonetization and GST in unison with the American and European imperialist deep states. BUt the logic is clear, GST is VERY GOOD for india, makes india a unified market, it reduces corruption (the thing you really want back) and it eliminates all the chungi tax collection stops which not only caused line of trucks standing for weeks on highways , so much delays and cost overruns and waste of food and perishable goods, but also a major source of corruption. But according to western imperialist deep states stooges... Nobel award winner s like Amartya Sen, GST is bad for india. not giving any logic , just some "data" that he got while rocking in his chahir in London. No thanks not buying.
I agree.. a good paying job is the thd shortest way out of poverty. Even a peon in govt or a chowkidar in a good private company can lift you out of poverty. However not every region is capable of hosting or creating such business. The microcredit example showed that. External intervention may be required in some cases.
@@rohitkhosla8110 Capitalism always needs govt oversight anyway. And govt can always give direction to private efforts (tax breaks, or other incentives) to help real societal goals. And finally the job of the govt is to do what people (private enterprise) can no do themselves). Micro-credit is one such ppp enterprise that is very successful. But there are other things like tax simplification (GST) and Demonetization which are also VERY successful , in lifting poor out of poverty. The logics is very simple and clear, but vested interests want to subvert the logic.
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Thank you for your interest in this video. We understand the importance of the debate. Please be respectful, constructive and modest in your choice of words.
Loved the talk... A request to many Indians please separate Abhijit's politics from the economics presented.
Esther Duflo happens to be my favourite economist
But why? Is she an economist or just a journalist?
Dipak basu r u mad?
@@DipakBose-bq1vv She is a professor at MIT and also teaches online through MITx courses on Edx.
I read their book, the poor economics, It is very interesting, by reading this book you will discover new thoughts on how actually poverty impact on the society .
Free trade and free enterprise free market capitalism is the only thing that works, all this leftist charity aide scheme crap NEVER worked. Such tinsel prizes are western imperialist elite's way of fooling the masses.
@@rational0 If you are that much talented, why are you here, on YT...
Bring a change, if you have the guts..if you can't, then shut the fuck up...
@@abhiruk 😂😂🔥🔥
@@rational0 this is the type of guy that knows nothing but 3 words
Modi Shah Bjp
Capitalism does not work at all. Why are there so many poor people in the USA, the land of free enterprise?
This couple is so geneous.
Love data especially when it is giving people Hope as an effective intervention
I9
Abhijit Banerjee 7:45
Esther Duflo 32:00
So it's humans that figured out the learning process and not the algorithm. But now we can use technology to implement it. imagine how many children can end up thinking like Esther.
What a brilliant couple.
Only for the fools.
And they won Nobel prize
so did Obama..enough said
Where is the implementation of their theories? In india millions of poor people exist though it has the 4th highest GDP. THE rich becomes richer and corrupted officials become kings. The middle class toils hard and earns ..the poor remains poor.
The poor on average are way richer than poor 30 years ago. Rich are also richer. Since it's a multiplicative, rich has grown millions for every new dollar of the poor, making it look more unfair and creating the hugest disparity in wealth humanity has ever seen.
Implementation is happening, though on pretty small scale as of now. World bank programs and regional investment banks, just as national and international financial aid flows are pretty rigid and opposed to change overall, because helping the poor is sadly not always the most important goal.
Luckily, transparency of the world is growing, so stakeholders (in case of banks and private funds) and citizens (in case of countries) starting to get a say in things, so greedy bourgeois and cleptocrates are at least trying to appear as if they are helping, and not just saying or posing.
No implementation. These are only big words, empty slogan, nothing else. Economic psychology is not new. Their methods are standards methods in psychology. What are the benefits? Nothing at all.
@Truthfears Guilty I'm not indian, so no idea about how it is now comparing to the rest of the world. Still, despite the beginning of your comment I don't see anything in your words that contradicts what I've said.
@Truthfears Guilty I'm from europe though, so no idea about your region apart from the most basic facts. My country has over 20% poverty while being in top3 by the number of dollar billioners, so I know the difference in lifestyles of rich and poor firsthand.
Also, where exactly is contradiction? Absolute wealth disparity between 1st and 10th decile is growing extremely fast indeed, while relative is slower cuz poor are also living better on average.
These theories get implemented only if the government embrace the same. We also need a leader who understands economics. Only marketing doesn't help the economy, just that the bottom-line takes a hit.
these RCT course not available right now , could some one help please
22:06
why did he say that?
34:00
Does this mean that Engel's law is flawed?
What is Engel`s law?
I’m guessing gujjus have figured this out already (stereotyped though)
Too long introduction. Bloody boring.
Hi, thank you for your feedback and interest. You can skip to the actual presentations: Abhijit Banerjee 7:45, Esther Duflo 32:00
Duflo,
Back dated issue.....
Was rubbish then, is rubbish now. Free trade free enterprise and industrialization and mass manufacturing has lifted billions out of poverty, but such poverty economics and poverty politics only help perpetuate poverty using charity and aide to subvert what really works - trade and industry.
I ignored them then, will ignore them now.
Yeah only Modinomics is the best which bring the economy behind Bangladesh.
Looks like you are one of them Bhakts..no wonder the economy is down the gutter.
@@edwardkumarkenway1875 & Akash Bose etc.
Barking BHAKT BHAKT at people is not a logical argument dear.
Indian economy is certainly not behind Bangladesh. The fake numbers are crap. India has done some good reforms under Modi which western imperialist deep states do not want, as they want india to be kept deindustrialized and buying goods from them all the time.
The global economic and manufacturing processes and societal demands for nature of products is fast changing. Demand for cars is down sharply all over the world due to Ola Uber and better public transportations. (you should be happy huh as that is good for the environment huh? ) But you do not like its effect on the auto sector , so blame MODI huh? IDIOTS.
India economy is at 6% growth which is better by far than Bangladesh whose textile sector has shifted to india due to ease of doing business.
Next you'll be blaming demonetization and GST in unison with the American and European imperialist deep states. BUt the logic is clear, GST is VERY GOOD for india, makes india a unified market, it reduces corruption (the thing you really want back) and it eliminates all the chungi tax collection stops which not only caused line of trucks standing for weeks on highways , so much delays and cost overruns and waste of food and perishable goods, but also a major source of corruption.
But according to western imperialist deep states stooges... Nobel award winner s like Amartya Sen, GST is bad for india. not giving any logic , just some "data" that he got while rocking in his chahir in London. No thanks not buying.
I agree.. a good paying job is the thd shortest way out of poverty. Even a peon in govt or a chowkidar in a good private company can lift you out of poverty.
However not every region is capable of hosting or creating such business. The microcredit example showed that. External intervention may be required in some cases.
@@rohitkhosla8110
Capitalism always needs govt oversight anyway. And govt can always give direction to private efforts (tax breaks, or other incentives) to help real societal goals.
And finally the job of the govt is to do what people (private enterprise) can no do themselves).
Micro-credit is one such ppp enterprise that is very successful. But there are other things like tax simplification (GST) and Demonetization which are also VERY successful , in lifting poor out of poverty. The logics is very simple and clear, but vested interests want to subvert the logic.
Farji Logo ki Farji Batein, koi solution nahi sirf faltu bakwas about pretending to "manage" poverty.
Modi hai to mumkin hai
Bazinga