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    Summary of Abhijit V. Banerjee's Good Economics for Hard Times
    Summary of Abhijit V. Banerjee's Good Economics for Hard Times
    Summary of Abhijit V. Banerjee's Good Economics for Hard Times
    Ebook64 pages42 minutes

    Summary of Abhijit V. Banerjee's Good Economics for Hard Times

    By IRB Media

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    Get the Summary of Abhijit V. Banerjee's Good Economics for Hard Times in 20 minutes. Please note: This is a summary & not the original book. Original book introduction: Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it.

    Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable.

    LanguageEnglish
    PublisherIRB Media
    Release dateNov 25, 2021
    ISBN9781638158561
    Summary of Abhijit V. Banerjee's Good Economics for Hard Times
    Author

    IRB Media

    With IRB books, you can get the key takeaways and analysis of a book in 15 minutes. We read every chapter, identify the key takeaways and analyze them for your convenience.

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      Book preview

      Summary of Abhijit V. Banerjee's Good Economics for Hard Times - IRB Media

      Insights on Abhijit V. Banerjee and Esther Duflo's Good Economics for Hard Times

      Contents

      Insights from Chapter 1

      Insights from Chapter 2

      Insights from Chapter 3

      Insights from Chapter 4

      Insights from Chapter 5

      Insights from Chapter 6

      Insights from Chapter 7

      Insights from Chapter 8

      Insights from Chapter 9

      Insights from Chapter 1

      #1

      There is a growing polarization in America and around the world between the left and the right, between those who value democracy and debate and those who only value their own personal beliefs.

      #2

      The world is full of problems that need to be solved, and economists have a lot of knowledge to share about these issues. But people are becoming more and more afraid of those who question the current economic model, and this has led to a vicious cycle of even less discussion about the problems.

      #3

      Despite the fact that economists have been proven to be correct about most of their predictions, the general public still does not trust them.

      #4

      When experts disagree with one another, it doesn’t necessarily mean they are wrong. Bad economics can cause distrust in experts.

      #5

      The media’s portrayal of economists also contributes to the public’s distrust of the field.

      #6

      The world is complicated, and economists are not immune to getting things wrong.

      #7

      On a fundamental level, the author hopes to change the way people think about economics and politics. He wants to create a new conversation between the two.

      Insights from Chapter 2

      #1

      Migration is a big issue all around the world, and especially in Europe. The EU on average receives between 1. 5 and 2. 5 million non-EU immigrants every year. Most of these are legal migrants, people with job offers, or those who arrive to join their families.

      #2

      The world is full of poor people who would obviously earn more money if they were to move to richer countries.

      #3

      The vast majority of people do not move unless they are forced to, and even then, they usually do not move far.

      #4

      However, there is also a possibility that we are overestimating the benefits of migration. While migrating certainly has its advantages, it may not be the best solution for everyone.

      #5

      The problem with relying on lotteries to determine who gets to come to a country is that those who don't apply may be very different. Those who don't apply may have little to gain from migrating.

      #6

      Displacement can have positive or negative effects, it just depends on the person.

      #7

      However, it is unlikely that most people are waiting for a better opportunity. Something else must be holding them back.

      #8

      There is little to suggest that large doses of immigration negatively affect the wages or employment prospects of the native population.

      #9

      However, these studies have been criticized for having small sample sizes, and for relying on secondary sources to back

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