Past eventMembers

The Surprising Truth about Life on Less than $1 a Day

26 March 2012 - 1:00pm to 2:00pm

Chatham House, London


Abhijit V Banerjee, Ford Foundation International Professor of Economics, Massachusetts Institute of Technology
Chair: Professor Frances Stewart, Director, Centre for Research on Inequality, Human Security and Ethnicity; Professor of Development Economics, University of Oxford



Why do so many of the world’s poorest, despite having the same desires and abilities as anyone else, end up with entirely different lives? Abhijit Banerjee will argue that so much anti-poverty policy has failed over the years because of an inadequate understanding of poverty itself. Looking at some of the most surprising facets of poverty - why the poor need to borrow in order to save, why they miss out on free life-saving immunizations but pay for drugs that they do not need, why they start many businesses but do not grow them - he will explore the complex reality of living on very little and offer practical solutions for reducing poverty.