Abhijit Banerjee and Esther Duflo, winners of the Nobel Prize in Economic Sciences 2019 are also the authors of the forthcoming book Good Economics for Hard Times – Better Answers to our Biggest Problems, published by Juggernaut.
Awarded the Nobel for their experimental approach to alleviating global poverty, both the authors argue in the book that while immigration and inequality, globalisation and technological disruption, slowing growth and accelerating climate change 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 available. 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.
The book is scheduled to come out in November 2019.
It looks at the most pressing issues of our times and tries to find the answers to questions like: Do immigrants take away jobs from poor native workers? Should we worry about the rise of artificial intelligence or celebrate it? Does international trade increase inequality, which is at present growing alarmingly? How do we manage the trade-off between growth and climate change? Is economic growth over in the West? Does growth really matter?
Banerjee, 58, is the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology. He is married to Duflo, 46, the second woman and the youngest ever to receive the economics award.