Book Review-Good Economics for Hard Times: Better Answers to Our Biggest Problems

Abstract

It is rare for economists to openly accept how little is known about which policies and institutions are the real drivers of economic growth. In Good Economics for Hard Times: Better Answers to Our Biggest Problems, Nobel-Prize winning economists Abhijit V. Banerjee and Esther Duflo show that the erroneous expectation of economic analysis to the same degree of precision as in physics or mathematics, only leads to wide misconceptions and beliefs. This is what makes the book interesting and worth looking into. The authors’ authenticities are displayed through extremely controversial topics of world politics, giving the readers deeper insight in to the problems we face today while pointing out where economic theories do not exactly fit the reality.