Esther Duflo and Abhijit Banerjee, two of the three winners of the 2019 Nobel Prize in Economics, at Massachusetts Institute of Technology, Cambridge, Massachusetts, US, October 14, 2019(REUTERS) Let us suppose that a government wants to launch a scheme that will give a monthly income to its poorest citizens as part of its welfare programme. Will this scheme make the recipients of this scheme “lazy” and “dependent”? To answer this question, typically policymakers in the government will ask economists for their opinion. Depending on who they ask, economists on the Right will vociferously argue that it will make people […]
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