Explore key insights on inequality, immigration, and growth from Nobel winners Banerjee & Duflo. A must-read on economics that matters.
Happy Holi to all! | Sonu Goswami
Happy Holi to all! Wednesday means another opportunity for me to share a new book 📚 with my fellow LinkedIn connections. This week's pick is "Good Economics for Hard Times" by Abhijit V. Banerjee ( 2019 Nobel Prize winner) and Esther Duflo. In my review, I will be focusing on the topics of ✅ #immigration of #migrants and ✅ #trade War, which are discussed in the book. *My review reflects the views of the author and not my personal opinions*. Good Economics for Hard Times" by Abhijit V. Banerjee and Esther Duflo offers evidence-based solutions for #inequality , #immigration , #climatechange , and #globalization that prioritize vulnerable populations through rigorous experimentation and data analysis. The world is experiencing growing political and economic #polarization , resulting in heated public debates with limited willingness to compromise. The left and the right are engaged in a high-decibel slanging match in several countries, and the increasing #economic disparities are leading to less diversity and patience. This is causing people to express their views and distrust religions. People are increasingly relying on rumors and sensationalized news instead of factual information, and politicians are exacerbating the situation. As a result, it's challenging to stick to the facts and remain realistic, especially in the absence of real-world experiences. Understanding economics requires effort, but the lack of access to real-world information is making it increasingly difficult to do so. For instance, when discussing poverty in India, it's incorrect to blame a specific cause or politics, as there are multiple factors to consider. Instead of jumping to conclusions, it's crucial to consider the #economic process and the many factors at play. Political gossip and #polarization have prevented us from discussing actual challenges such as #immigration and #artificialintelligence impact on employment. Ordinary people #distrust economists, and these #Pseudo #economists appear to be not actual economists who are CEO to a bank or holding a CEO position of big company come on TV with their option (agenda behind to promote their company's interest). Also they forecast outcomes instead of focusing on the economic process. To be more analytical, we must focus on the process rather than the end result and rely on good economics, which involves making informed guesses based on existing theories and testing them with data. The work of economists is comparable to medical research, as described in Siddhartha Mukerjee's wonderful book on the fight against cancer . *The Emperor of all maladies*, tells a story of combining inspired guesswork with careful testing, and many rounds of refinements before the new drug gets to the market. A big part of Economist's work is very much like that. The book explains recent global turmoil, highlights positives, and offers a guide to rebuilding based on a problem diagnosis. #economics #database #book | 24 comments on LinkedIn
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Happy Holi to all! Wednesday means another opportunity for me to share a new book 📚 with my fellow LinkedIn connections. This week's pick is "Good Economics for Hard Times" by Abhijit V. Banerjee ( 2019 Nobel Prize winner) and Esther Duflo. In my review, I will be focusing on the topics of ✅
#immigration of #migrants and ✅ #trade War, which are discussed in the book. *My review reflects the views of the author and not my personal opinions*. Good Economics for Hard Times" by Abhijit V. Banerjee and Esther Duflo offers evidence-based solutions for #inequality , #immigration , #climatechange , and #globalization that prioritize vulnerable populations through rigorous experimentation and data analysis. The world is experiencing growing political and economic
#polarization , resulting in heated public debates with limited willingness to compromise. The left and the right are engaged in a high-decibel slanging match in several countries, and the increasing
#economic disparities are leading to less diversity and patience. This is causing people to express their views and distrust religions. People are increasingly relying on rumors and sensationalized news instead of factual information, and politicians are exacerbating the situation. As a result, it's challenging to stick to the facts and remain realistic, especially in the absence of real-world experiences. Understanding economics requires effort, but the lack of access to real-world information is making it increasingly difficult to do so. For instance, when discussing poverty in India, it's incorrect to blame a specific cause or politics, as there are multiple factors to consider. Instead of jumping to conclusions, it's crucial to consider the #economic process and the many factors at play. Political gossip and #polarization
have prevented us from discussing actual challenges such as #immigration and #artificialintelligence impact on employment. Ordinary people #distrust economists, and these
#Pseudo #economists appear to be not actual economists who are CEO to a bank or holding a CEO position of big company come on TV with their option (agenda behind to promote their company's interest). Also they forecast outcomes instead of focusing on the economic process. To be more analytical, we must focus on the process rather than the end result and rely on good economics, which involves making informed guesses based on existing theories and testing them with data. The work of economists is comparable to medical research, as described in Siddhartha Mukerjee's wonderful book on the fight against cancer . *The Emperor of all maladies*, tells a story of combining inspired guesswork with careful testing, and many rounds of refinements before the new drug gets to the market. A big part of Economist's work is very much like that. The book explains recent global turmoil, highlights positives, and offers a guide to rebuilding based on a problem diagnosis. #economics #database #book
