711: A Nobel Prize Winner on Rethinking Poverty (And Business)

Esther Duflo, an MIT economist, won the 2019 Nobel Prize in Economic Sciences for her experimental approach to alleviating global poverty. Duflo’s early life working at a non-governmental organization in Madagascar and volunteering in soup kitchens in her native France inspired her to study economics and research the root causes of poverty. With her fellow Nobel winners Abhijit Banerjee of MIT and Michael Kremer of Harvard, Duflo showed that effective policies often go against conventional wisdom and popular economic models. The only way to find out what works, she argues, is to rigorously test solutions on the ground, and she encourages businesses to do the same. With Banerjee, Duflo also wrote the new book "Good Economics for Hard Times."