Saturday, October 24, 2009

Lecture - The End of Poverty - J. Sachs

View it here:
http://www.columbia.edu/cu/news/media/05/349_the_end_of_poverty/

The End of Poverty: Economic Possibilities for Our Time
One billion people on the planet are struggling with extreme poverty according to Jeffrey D. Sachs, director of The Earth Institute at Columbia University. In this March 31 lecture, Sachs discusses his new book, The End of Poverty: Economic Possibilities for Our Time, which explores the challenge of global poverty. Sachs also shares accounts of his recent visits to Africa and offers practical solutions to the challenge of global poverty, which he contends can be eliminated by 2025.

Thursday, October 22, 2009

Lecture on Institutions, Geography, and Growth - Roberto Rigobon




Source: http://mitworld.mit.edu/video/212

About the Speaker

Roberto Rigobon PhD '97
Professor of Economics, MIT Sloan School of Management

Roberto Rigobon researches international economics, monetary economics, and development economics. He is a faculty research fellow of the National Bureau of Economic Research, and a visiting professor at IESA, Venezuela. He joined Sloan in 1997 and has twice won the "Teacher of the Year" award and the "Excellence in Teaching.” He received his Ph.D. in economics from MIT in 1997, an M.B.A. from IESA (Venezuela) in 1991, and his B.S. in Electrical Engineering from Universidad Simon Bolivar in Venezuela.


About the Lecture

Three billion people on earth live on less than two dollars a day. A relative handful of us fare astronomically better. How do economists account for global “haves” and “have-nots”? Roberto Rigobon attributes a vast income inequality across countries to four connecting factors: luck, geography, quality of institutions, and quality of policies. If a country lies close to the 50th parallel, its citizens’ average income is six times greater than that of an equatorial country. Heat takes a toll on nation-building. Take Caribbean and Latin American countries, which experienced a wave of malaria in the 1500’s. Spanish colonists preferred to extract resources and send them home, rather than risk death by staying. Those nations developed impoverished economies and institutions that continue today. Colonists moved to cooler climes settled down, invested in the new world, and created enduring social structures. Rigobon can’t recommend a single, economic, or political doctrine to help a struggling nation achieve prosperity. “The set of rules depends on a country’s culture, history and religion…. In the end the only sustainable regime is democracy, freedom of speech, and the rule of law, but how we get there isn’t irrelevant.” Rigobon encourages developing nations to embrace social and political conflict as “an opportunity to improve.”

Lecture on Ending Global Poverty - Muhammad Yunus

Source: http://mitworld.mit.edu/video/289

About the Speaker

Muhammad Yunus
Founder and Managing Director, Grameen Bank2006 Nobel Peace Prize Laureate Ambassador for the Joint United Nations Program on HIV/AIDS
Muhammad Yunus made his first loan of $27 to a group of 42 Bangladeshi village women, to help free them from debt to moneylenders and allow them to build their furniture business. He established the Grameen Bank in 1983 to help millions of Bangladeshis escape from poverty. The bank now has branches in more than 36 thousand Bangladeshi villages and in other countries. Yunus, a Fulbright Scholar, earned a Ph.D. from Vanderbilt University in 1969. Yunus has received the Ramon Magsaysay Award (1984) from Manila; the Aga Khan Award for Architecture (1989) from Geneva; the Mohamed Shabdeen Award for Science (1993) from Sri Lanka; and the World Food Prize by World Food Prize Foundation (1994) from the US. His autobiography, Banker to the Poor, was published in 1998.

About the Lecture

Imagine a bank that loans money based on a borrower’s desperate circumstances -- where, as Muhammad Yunus says, “the less you have, the higher priority you have.” Turning banking convention on its head has accomplished a world of good for millions of impoverished Bangladeshis, as the pioneering economist Yunus has demonstrated in the last three decades. What began as a modest academic experiment has become a personal crusade to end poverty. Yunus reminds us that for two-thirds of the world’s population, “financial institutions do not exist.” Yet, “we’ve created a world which goes around with money. If you don’t have the first dollar, you can’t catch the next dollar.” It was Yunus’ notion, in the face of harsh skepticism, to give the poorest of the poor their first dollar so they could become self-supporting. “We’re not talking about people who don’t know what to do with their lives….They’re as good, enterprising, as smart as anybody else.” His Grameen Bank spread from village to village as a lender of tiny amounts of money (microcredit), primarily to women. Yunus heard that “all women can do is raise chickens, or cows or make baskets. I said, ‘Don’t underestimate the talent of human beings.’ ” No collateral is required, nor paperwork—just an effort to make good and pay back the loan. Now the bank boasts 5 million borrowers, receiving half a billion dollars a year. It has branched out into student loans, health care coverage, and into other countries. Grameen has even created a mobile phone company to bring cell phones to Bangladeshi villages. Yunus envisions microcredit building a society where even poor people can open “the gift they have inside of them.”

Friedman - Responsibility to the Poor

video

Source: http://www.youtube.com/watch?v=Rls8H6MktrA

Lecture by Esther Duflo - Fighting Poverty: What Works?



Source: http://mitworld.mit.edu/video/375


About the Speaker

Esther Duflo PhD '99
Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics;Director, Abdul Latif Jameel Poverty Action Lab



Esther Duflo specializes in development economics. She obtained her Masters in Economics from DELTA and Ecole Normale Superieure in Paris in 1995, and completed her Ph.D. in Economics at MIT in 1999. Most recently, she was the recipient of the John D. and Catherine T. MacArthur Foundation Fellowship, the John M. Olin Faculty Fellowship, the Alfred P. Sloan Research Fellowship, and the Elaine Bennett Prize for Research.Duflo's work focuses on the evaluation in developing countries of the efficacy of policies and initiatives put forth by governments and non-governmental organizations involving education reform, political participation, within-family patterns of resource allocation, and health care delivery. She is also interested in the political economy of public goods provision and gender issues and the economics of the family. She co-founded the Poverty Action Lab, a research center at MIT focusing on randomized evaluation of anti-poverty programs.

About the Lecture



Esther Duflo hopes to take the measure of a wide range of anti-poverty programs. Applying scientific methodology, her colleagues and students at the MIT Poverty Action Lab are approaching the projects of well-intended governments and NGO’s (non-government organizations) with a fresh eye. “We have a spotty and scattered idea of the most effective ways to deliver social impact,” says Duflo, so evaluating what works is important. She describes the U.N. goal of ensuring that all children worldwide attend school. Many programs aimed at achieving this goal simply don’t deliver the results intended. Some approaches that gained credibility and support involve giving away school uniforms and providing free meals. But, says Duflo, “Sometimes ideas that become conventional wisdom are erroneous and need to be rethought,” especially since the “budget for fighting poverty is extremely limited and will remain limited.” Researchers compared a program that aimed to improve children’s school attendance through a program of deworming, with a program that paid kids to go to school. Testing these projects “the way we do drugs, with treatment and control groups chosen randomly,” Duflo found that the $3 per year deworming program resulted in a dramatically higher increase in school years attended than did the $6,000 per year program paying kids to attend school.Duflo insists on “being pragmatic about what works and what doesn’t,” and attempts to evaluate not just the effectiveness of programs but the auditing of corruption often found in social programs in the developing world. If the groups implementing a program partner early with Duflo, and embrace a rigorous evaluation of their work, they can often abort ineffective approaches and expand successful ones, maximizing their anti-poverty investment, says Duflo. “The best quality research must form the basis of good policy,” she concludes.

Esther Duflo receives MacArthur Fellowship for transformative work on economic development

MIT economist Esther Duflo, whose research has helped change the way governments and aid organizations address global poverty, was named today as a recipient of a 2009 MacArthur Fellowship — the prominent "genius" grant for innovative work.Duflo, the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics at MIT, and director of the Abdul Latif Jameel Poverty Action Lab (J-PAL), was one of 24 recipients named this year for their "exceptional originality in and dedication to their creative pursuits." MacArthur Fellowships are given to honorees in a wide range of endeavors. They carry a $500,000 purse, which recipients may use as they see fit. Duflo, 36, learned about the award last week in a phone call from the John D. and Catherine T. MacArthur Foundation. "It was definitely out of the blue," she says.As she sees it, the MacArthur Fellowship is likely to help elevate awareness of all her colleagues who work to alleviate poverty. "That's the best thing about it," says Duflo. "I'm a little bit humbled, because this is not only about me, but the entire J-PAL lab. It is a collective enterprise."Duflo, who received her PhD from MIT's Department of Economics in 1999, has seen her research become highly influential in a relatively short time. In frequent collaboration with colleagues, including Abhijit Banerjee, Ford International Professor of Economics at MIT, she has pursued economic studies that emphasize controlled field experiments as a way of determining what types of foreign aid and investment are most effective. Such studies address the long-running, difficult questions of how aid money can to be used efficiently, and what kinds of programs can have long-term positive effects in the developing world.A global economics laboratoryDuflo's studies often replicate the effects of randomized medical trials, by applying a local aid program to one set of people, and comparing the results to a control group that did not participate in the program. For instance, a study in India by Duflo (and economists Rema Hanna of Harvard and Stephen Ryan of MIT) showed that schoolteachers were much more likely to show up for work when they participated in a monitoring system that offered them financial incentives; the system also led to better student achievement. However, this kind of research often shows that people do not always act to maximize their financial gains, contrary to what some economists have theorized, and suggests that aid programs should be tailored to local cultures and economic practices. Recent work by Duflo (and economists Michael Kremer of Harvard and Jonathan Robinson of The University of California, Santa Cruz) has shown that the most successful way of getting farmers in Kenya to use optimum amounts of fertilizer involves giving them modest incentives — free fertilizer delivery — soon after a harvest. Duflo has also sought to help colleagues use similar experimental methods. Along with Banerjee and Sendhil Mullainathan (now at Harvard), Duflo founded J-PAL in 2003 as a center within MIT's Department of Economics. It has since grown into a research network linking professors at 21 universities; researchers affiliated with J-PAL are currently running over 100 studies in 30 countries. Beyond its MIT headquarters, J-PAL also has regional offices — in Paris, France, and Chennai, India, and a new one opening later this year in Santiago, Chile — that support fieldwork and disseminate the results to regional policy-makers. The World Bank, among other institutions, has begun funding experimental, randomized studies as part of its own efforts to fight poverty. As far-flung as J-PAL and its influence has become, however, Duflo sees both her own work and J-PAL very much as a product of the distinctive research culture at MIT. "My advisers [Banerjee and Joshua Angrist] were critical in shaping my thesis," says Duflo. "And when we wanted to start J-PAL, we got a lot of support and trust from the faculty, department chair, dean and provost. MIT saw the value of putting science into action, and taking research into the world." The MacArthur Fellowship adds to a series of honors Duflo has obtained recently. Earlier in 2009, she was the first recipient of the Calvó Armengol International Prize from the Barcelona Graduate School of Economics; became a Fellow of the American Academy of Arts and Sciences; and delivered a lecture series at the prestigious College de France in Paris, having been named that institution's first holder of its "Knowledge Against Poverty" chair. J-PAL as a whole claimed a major new international prize in January, the BBVA Foundation Frontiers of Knowledge Award in the category of Development Cooperation. Three MIT alumni were also named as 2009 MacArthur Fellows. Peter Huybers PhD ’04, an assistant professor of earth and planetary sciences at Harvard, received the award for research that helps explain changes in the earth's climate over the past 1.8 million years.John A. Rogers PhD ’95, a professor of engineering at the University of Illinois, was named a MacArthur Fellow for his work in materials science. Rogers is developing flexible semiconductors, based either on silicon or carbon nanotubes, which can give a signal-processing capability to a wide range of devices, in areas from medicine and clean energy to consumer goods.Daniel Sigman PhD ’97, a biogeochemist at Princeton, was given the award for research illuminating the effects oceanic biomass has had on the earth's climate over the past two million years.

Fighting Poverty Effectively - Esther Duflo

Part 1
http://www.youtube.com/watch?v=xMB82RX02tE

Part 2
http://www.youtube.com/watch?v=ngswI2royY0

Part 3
http://www.youtube.com/watch?v=0DY-YagbXTA

Part 4
http://www.youtube.com/watch?v=qPQYmC-g1Ew

Part 5
http://www.youtube.com/watch?v=8orFvqLyrjg

Part 6
http://www.youtube.com/watch?v=ZjrmvmA9kSc

Part 7
http://www.youtube.com/watch?v=JFEIMSVzLt0

Part8
http://www.youtube.com/watch?v=GFHf5LMY3M4