Esther Duflo, joint winner of 2019 Nobel Prize for Economics, wants to make it clear that economics is not just about people in suits and ties and discussions about macro economic trend, but it is also about reflecting on the social issues that challenge everyone today. In a Skype chat from the US with BusinessLine, Duflo, a self-proclaimed sportsperson, points out, “When we were writing the book (Good Economics for Hard Times) India was growing very fast, but if you notice we say that it is going to slow down. We exactly ask this question then that what should India do? You cannot allow growth slowdown to affect you.” Duflo was the joint winner along with her husband Abhijit V Banerjee and Michael Kremer for their experimental approach to alleviate global poverty. She believes that empowering the less beneficial will help protect to some extent from the after effects of global economic externalities. Excerpts:
You think that with this award the direction that the Nobel Academy has taken is to put the conversation towards issues that are affecting us right now?
You never know how they think, but it could be that in today’s world it is important to shed spotlight on issues that are affecting the majority. They chose to acknowledge that the fight against poverty is one of the fights, which has been going on for last three decades.
Many things have not gone too well in the world in the last decades, but one thing that has got recognised is lives of the poor mainly in India and China has improved.
Today, the concept of welfare state is being debated. What is your view particularly in the context of India?
Denne historien er fra October 30, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 30, 2019-utgaven av The Hindu Business Line.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Covid Presents An Opportunity For India
India must attract investors exiting China post-Covid. Streamlining of project clearances and relaxation in FRBM norms will help
Did Alternative Assets Shield You From Covid-19 Volatility?
The assets closely linked to stock and debt markets could not stave off the losses
How To Put Aircraft To Bed
Preserving grounded planes, to get them up and flying at short notice, is a challenging task. Ashwini Phadnis captures the process
There Can Be No Going Back On WFH
Covid-19 has fast-forwarded the shift to ‘work from home’. However, some face-to-face connect will always be needed
UN, WHO Urged To Ensure ‘Benefit Sharing' Of Covid-Related Data
Biopharma firms should reach vaccines, medicines to poor nations at an affordable price, say civil society bodies
With No Clear Signal From Rlys, States Explore Ways To Bring Back Migrants
Quarantine centres, cross-country buses being arranged even as migrants hop on to boats, trucks and ambulances
Centre Allows All Neighbourhood Shops To Open But With Riders
Final call will be taken by local authorities; shopping complexes that draw fewer ‘outsiders’ are permitted to operate
Covid Impact Relatively Muted In India
Compared to Italy and the US, India’s rate of infection spread has been slow. This can be attributed to the strict measures in place
How Global Trade Will Fare Post-Covid
China isn’t likely to lose its pre-eminent position soon. India, for one, will need to make manufacturing globally competitive
How To Curb Harassment In The Virtual Office
Training and sensitisation are essential. Institute a strict dress code and chat etiquette to ensure professionalism during video calls
