- Monday, October 12th, 8:30 am to 9:30 am
- La Sala de Puerto Rico, MIT Student Center
- Abhijit BanerjeeFord Foundation international professor of economics, Massachusetts Institute of Technology
In the fight against poverty, what actually works? An MIT-based network of academics is applying science to answer that question. The Abdul Latif Jameel Poverty Action Lab uses randomized controlled trials to advise policymakers and non-governmental organizations on every kind of intervention that might be deployed to reduce poverty. Recently they conducted six experiments on microfinance in different countries, asking whether microloans were effective in boosting people out of poverty by enabling them to start businesses. The results suggested that these programs' vaunted repayment programs suppressed entrepreneurship; cash gifts and products that enabled people to save were far more effective in helping people lift themselves out of poverty. Social media hashtag: #PovertyScience.