Esther Duflo Speaks at Barcelona Economics Lecture Part 2/8

[hymnofashes]

Markets don't eradicate poverty traps, they simply organize production and distribution. If there are poor natural resources, little capital, and problems with health and security, it will not be possible for a market to create enough value so that people spend their money on just getting by.

It cannot be the case that it is fundamentally impossible to give useful aid. That's just insane.

[edmar201011]

very bad English pronunciation

[derrillwat]

In this segment, Duflo lays out the basic development "camps" - Sachs, Easterly, Collier [aid, markets, institutions].