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Abhijit Banerjee at Express Adda: FM shouldn’t have cut corporate tax

Abhijit Banerjee and Esther Duflo, both professors at the Massachusetts Institute of Technology (MIT), were awarded the Nobel for their groundbreaking work in development economics.

By: Express Web Desk | Mumbai |
Updated: January 7, 2020 10:58:15 am
Abhijit Banerjee Esther Duflo, Abhijit Banerjee Express Adda, Esther Duflo Express Adda, Express adda, Nobel Prize Esther Duflo, Indian Express news Nobel laureates Abhijit Banerjee and Esther Duflo in conversation with Anant Goenka, Executive Director, The Indian Express Group, and Seema Chishti, Deputy Editor (Express Photo: Prashant Nadkar)

Nobel laureates Abhijit Banerjee and Esther Duflo were guests at the Express Adda in Mumbai on Monday. The economist couple shared the 2019 Nobel Prize in Economics with Michael Kremer for their “experimental approach to alleviating global poverty”.

Kolkata-born Banerjee, 58, and Paris-born Duflo, 46, both professors at the Massachusetts Institute of Technology (MIT), were awarded the Nobel for their groundbreaking work in development economics that has provided insights into problems of poverty that governments across the world are engaged with today.

At the first Express Adda of 2020, Banerjee and Duflo were in conversation with Anant Goenka, Executive Director, The Indian Express Group, and Seema Chishti, Deputy Editor.

Live Blog

Highlights: Nobel couple Esther Duflo and Abhijit Banerjee at Express Adda in Mumbai.

20:41 (IST)06 Jan 2020
Express Adda with Esther Duflo, Abhijit Banerjee concludes

Our first Express Adda with Nobel couple Esther Duflo and Abhijit Banerjee has concluded. The Nobel laureates spoke on a variety of matters, including microeconomics, the comparison of India's economic performance with China, violence at JNU, among others. 

Thanks for watching! 

20:39 (IST)06 Jan 2020
5 trillion GDP can't be marker of success: Abhijit Banerjee

Audience question: What do you have to say about India's goal of becoming a 5 trillion dollar economy?

Banerjee: I think we should be less obsessed with growth as the one marker of success. 5 trillion mark can't really be a marker of success.

20:06 (IST)06 Jan 2020
Economist Ajit Ranade on Express Adda with Abhijit Banerjee and Esther Duflo

Here's what economist Ajit Ranade has to say on today's Express Adda with Abhijit Banerjee and Esther Duflo

19:50 (IST)06 Jan 2020
Abhijit Banerjee: I am a leftist most leftists would disapprove of

On the subject of JNU and the violence ensued there last night, Abhijit Banerjee was asked which side of the intellectual spectrum he finds himself in. "I am a leftist most leftists would disapprove of," he responded. 

19:47 (IST)06 Jan 2020
JNU was a safe space for dissent: Abhijit Banerjee

On yesterday's incident of violence in the campus of Jawaharlal Nehru University, Nobel Laureate Abhijit Banerjee said the university was a 'safe space for dissent'. 'It is important to have a space for dissent where we can disagree,' he added.  

"It is important for all of us to lay claim to that safe place. It is important to have a place where we can disagree and still hold discussions," he said.

19:43 (IST)06 Jan 2020
RTI important tool to pin down govt: Abhijit Banerjee

The Right to Information is a tool to pin down the government, otherwise the government is famously non-transparent, says Abhijit Banerjee

19:32 (IST)06 Jan 2020
Humans tolerate inequality even when they shouldn't: Esther Duflo

Anant Goenka, Executive Director: The battle between haves and have nots, the issue of disparity is at least as old as the Industrial Revolution. What are we doing wrong?

Duflo: I think the issue has always been and will always be. Humans tolerate inequality even when they shouldn't.

19:27 (IST)06 Jan 2020
Cutting corporate tax not going to save Indian economy: Abhijit Banerjee

When asked what he would suggest Finance Minister Nirmala Sitharaman, a fellow JNU alumni, on what she shouldn't do, Nobel laureate Abhijit Banerjee said Sitharaman shouldn't have cut corporate tax. "It is not going to save the economy," he said.

19:20 (IST)06 Jan 2020
WATCH: Nobel Prize winning economists Esther Duflo and Abhijit Banerjee at Express Adda

Abhijit Banerjee and Esther Duflo, the economist couple who shared the 2019 Nobel Prize in Economics with Michael Kremer for their “experimental approach to alleviating global poverty”, are the guests at the Express Adda in Mumbai on Monday. Watch LIVE here

19:16 (IST)06 Jan 2020
Abhijit Banerjee, Esther Duflo write for Indian Express: CAA, NRC introduce meddlesome officialdom into a question as fundamental as citizenship

In an op-ed for The Indian Express, Abhijit Banerjee and Esther Duflo write: "The real economic challenge is for the middle classes, who worry that this new group of claimants will eventually reach for the prize that they have so far held onto, the ultimate gift of a local government job. But it is a sign of our poor governance that government jobs are as much of a windfall as they are now — the fact that in 2019, 19 million Indians applied for 63,000 low-level jobs in the railways, should tell us we are getting something very wrong." Read here

19:13 (IST)06 Jan 2020
Economists don't have enough confidence that people will listen to their argument: Esther Duflo

On why economists are not able to speak up publicly on current issues, Nobel laureate Esther Duflo said it might be because "economists don't have enough confidence that people will listen to their argument."

19:10 (IST)06 Jan 2020
Level of trust of experts at historical low: Abhijit Banerjee

Citing the "number of rants I read against me," with people calling him an "elite out of touch with reality," Nobel laureate Abhijit Banerjee said the level of trust of experts is currently at a "historical low".  

19:03 (IST)06 Jan 2020
No evidence that low-skilled immigrants are bad for economies: Abhijit Banerjee

No evidence that low-skilled immigrants are bad for economies: Abhijit Banerjee

19:02 (IST)06 Jan 2020
We should be teaching a more sophisticated economy: Abhijit Banerjee

Speaking on immigration especially in countries like the United States, where it is often an emotive issue, Nobel laureate and economist Abhijit Banerjee  said the problem lies in the understanding of economics as taught in schools. "We should be teaching a more sophisticated economy," he said, explaining how low skilled immigrants at times even help in the growth of the GDP and doesn't depress wages.

18:53 (IST)06 Jan 2020
Express Adda with Esther Duflo, Abhijit Banerjee: Watch LIVE

Nobel laureates Abhijit Banerjee and Esther Duflo are guests at the Express Adda in Mumbai today.

Find the live event link below:

FB Live
https://www.facebook.com/indianexpress/videos/1444250322392006/

YT Live
https://youtu.be/FtMfvU3CeGA

18:48 (IST)06 Jan 2020
The first Express Adda of 2020 has Nobel laureates Esther Duflo, Abhijit Banerjee as guests: Tune in!

Abhijit Banerjee and Esther Duflo, the economist couple who shared the 2019 Nobel Prize in Economics with Michael Kremer for their “experimental approach to alleviating global poverty”, will be guests at the Express Adda in Mumbai on Monday. Watch this space for LIVE updates

The Express Adda is a series of informal interactions organised by The Indian Express Group and features those at the centre of change. Past guests at the event have included Finance Minister Nirmala Sitharaman, former UK Deputy Prime Minister and Vice-President of Global Affairs and Communications at Facebook Nick Clegg, the Dalai Lama, the late Arun Jaitley, economist and Nobel laureate Amartya Sen, oncologist and Pulitzer Prize-winning author Siddhartha Mukherjee, Congress leader and Rajasthan Deputy Chief Minister Sachin Pilot, cricketer Cheteshwar Pujara, world badminton champion P V Sindhu, and national badminton coach and former All England champion Pullela Gopichand.

Over the last two decades, Banerjee and Duflo have worked with governments in Africa and Asia to carry out randomised control trials across social sectors such as health and education to validate the effectiveness of delivery systems.

Despite criticism that their economics relies too heavily on RCTs, the duo, who founded the Abdul Latif Jameel Poverty Action Lab (J-PAL) at the Department of Economics at the MIT in 2004, have been credited with using their experimental approach to understanding common, yet vexing, problems such as poverty or the fact that children go to school but don’t learn enough.

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