Webinars Brief 13:2021
Breaking Out Of The Poverty Trap
Publication Year : 2021
Author: Ramla Zubair

Abhijit Banerjee is an Indian-American Economist and a Professor at the Massachusetts Institute of Technology. Banerjee shared the 2019 Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer “for their experimental approach to alleviating global poverty”. They often worked with each other, focused on relatively small and specific problems that contributed to poverty, and identified the best solutions through carefully designed field experiments, which they conducted in several low- and middle-income countries for more than two decades. They show why the poor people, regardless of having similar desires and capacities as any other individual, end up with completely different lives. Their preferred policies entail small reforms which are based firmly on the belief that the path forward is not better by ‘big thinking’ but thinking small. Improving the quality of lives of the poor measurably and consistently is primarily a matter of making a series of small changes that don’t require major political battles or adjustments within the funding structures. PIDE has consistently worked on research projects related to poverty. PIDE has investigated the opportunities for the poor people, Rural Poverty Dynamics in Pakistan, and reducing poverty through Microfinance. Recently, PIDE invited Prof. Banerjee to gain his perspective on poverty in Pakistan.