Poor Economics

I picked up a cheapo duplicate copy of Poor Economics by Banerjee and Duflo, bought from a bookstore in Kochi when I went to a friend's wedding.It feels like I understand the mechanics and economics of poverty much better now. My favourite chapter was the one about microfinance (aged well, nail on the head), and the one about poor people and their relationship to entrepreneurship.Much of the book is explaining behaviours of the poor that are incomprehensible to people (especially WEIRD people) who haven't actually talked to or known much about poor people. some of this is backed by randomized controlled trials that won them the (economics) Nobel prize.Examples of these behaviours:When the very poor get more money or subsidies, they don't maximise calories per dollar or spend more on necessities, they'd spend on tastier calories and entertainment, and this is a very rational behaviour given their circumstances.The poor would rather spend on cures and injections and expensive healthcare…