Radical rethinking of the economics of poverty in research by A. Banerjee, E. Duflo, M. Kremer (2019 Nobel Prize in Economic Sciences)

Abstract

Introduction. Research conducted by Nobel Prize winners in 2019 Abkhazit Banerjee, Esther Duflo and Michael Kremer over fifteen years in dozens of countries across five continents have made it possible to radically rethink the poverty-ridden, which often results from the irrational behavior of people that forms the basis of their choice. Scientists’ views on this or that fact, prospects for measures to combat poverty, make it possible to rethink the problem outlined above, which is largely based on the findings of scientists, behavioral impulses of people and the heterogeneous conditions under which they arise. Prupose. To substantiate the new approach to poverty reduction, reflected in the research by A. Banerjee, E. Duflo and M. Kremer – 2019 Nobel Prize winners in Economic Sciences. Methods. During article preparation, common scientific methods of cognition were used: analysis, synthesis, induction, deduction, as well as empirical methods of research, which most contributed to the possibility of revealing the specificity of 2019 Nobel Prize winners in Economic Sciences in the field of global poverty.Results. Acquaintance with the works of A. Banerjee, E. Duflo and M. Kremer assure that the effectiveness of measures aimed at poverty reduction depends, first of all, on the depth of the situation analysis, the isolation of specific components of the problem (availability of food, drinking water, medical, financial services) and finding ways to address them to maximize their cumulative effect. «Field experiments» used by scientists in research, have proven to be the most appropriate method of addressing poverty. Discussion. The economic measures offered by the Nobel Prize winners (for example, the poorest countries) generally convince them of the need for further improvement, taking into account the specificities of the country and the factors that determine the problem.