Posted on 12 March, 2020
Mukul Gulati, Managing Partner, Zephyr Peacock writes
about the Nobel Laureates Esther Duflo’s and Abhijit Banerjee’s recent book ‘Good
Economics for Hard Times.’ “Economic theory often fails when facing the reality
of human behaviour. The authors use their real-world experience derived from
hundreds of field trials to help us understand the challenges of migration,
trade, and climate change,” writes Mukul.
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here to read the full article on ‘Your Story’
Below are excerpts from the post that first appeared on
Your Story on 12 March 2020:
Since the fall of the Berlin Wall, the world has experienced
a remarkable period of economic growth driven by globalisation of capital and
supply chains. Over the last 30 years, hundreds of millions of Chinese and
Indian citizens have escaped the clutches of poverty while the Western world
has experienced rising prosperity and improved living standards. However, this
prosperity has been accompanied by rising levels of inequality across the
world, leading to the rise of nationalism and the decline of liberal democracy.
Governments and societies across the globe are searching for answers.
Economic theory often fails when facing the reality of human behaviour. The authors use their real-world experience derived from hundreds of field trials to help us understand the challenges of migration, trade, and climate change. Duflo and Banerjee are world-class empiricists. The book is a reminder that they are also remarkable theorists and powerful storytellers.
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Since its inception in 1994, Zephyr has sponsored and/or managed 26 investment funds in both public and private securities markets representing approximately $1.2 billion in combined commitments and assets under management
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