Abhijit Banerjee, Prize in Economic Sciences 2019: Official interview | Summary and Q&A

Summary

In this video, the speaker talks about growing up in Kolkata, living next to a slum, and the impact it had on his understanding of poverty. He also discusses how he ended up studying economics and his deep connection to India. He shares insights on the psychology of the poor and the similarities he has observed across different countries. Furthermore, he raises the daunting question of climate change and its implications for the lives of the poor. The speaker emphasizes the importance of finding creative solutions and the role of political will in addressing these challenges. He also touches on his own personal interests and passions, such as teaching and filmmaking.

Questions & Answers

Q: How did growing up next to a slum shape the speaker's understanding of poverty?

The speaker grew up in a middle-class family in Kolkata, living next to one of the city's biggest slums. He noticed that while he had to go to school, the kids in the slum were able to play all day. This early exposure to poverty and the stark difference in lifestyles between him and the poor children led him to develop an interest in understanding why the poor are different and how economic theory can be applied to explain these differences.

Q: How did the speaker end up studying economics?

Initially, the speaker wanted to study mathematics and enrolled in a prestigious institute called the Indian Statistical Institute in Kolkata. However, he realized that he didn't enjoy the social atmosphere there. In order to switch fields without losing a year, he decided to study economics instead. This choice was somewhat accidental, but it allowed him to explore the connection between economic theory, the lives of the poor, and the world he had been exposed to.

Q: What is the speaker's connection to India?

The speaker considers himself to be an Indian at heart, regardless of where he lives or his citizenship. He believes that one's social milieu and the people who inspire and influence you determine your sense of identity and affiliation. For the speaker, there are many people in India who have had a significant impact on him, and he feels that India matters to him in a way that no other country does.

Q: Are there similarities or differences in the psychology of the poor across different countries?

The speaker has worked with poor people in various countries, including Indonesia, Ghana, Kenya, and India. He asserts that the similarities in the psychology of the poor are more striking than the differences. Poor people, like everyone else, are creative, seek opportunities, and make mistakes. They have desires for both nutritious and tasty food, just as anyone else would. It is important not to underestimate the psychology of the poor and to recognize that it is not fundamentally different from that of wealthier individuals.

Q: How does the issue of climate change impact the lives of the poor?

The speaker highlights the pressing question of climate change and its effect on the poor. He specifically mentions the Bengal Delta in India and Bangladesh, where around 150 to 200 million people live. Unless drastic actions are taken, this region will be submerged underwater, displacing a massive population. The speaker raises concerns about the lack of solutions and the potential consequences for these predominantly poor individuals who already live on limited land. He considers this to be one of the most alarming questions for the future of the poor.

Q: How can people be motivated to change their lifestyles to combat climate change and energy consumption?

The speaker believes that people are capable of change, especially when they witness others making similar changes. People are not inherently resistant to adjusting their lifestyles. Even simple interventions, like sending a letter informing individuals that they are among the top energy consumers in their neighborhood, can lead to reduced consumption. The speaker suggests that challenging the gratuitous habits of energy consumption and finding creative, non-burdensome solutions requires both political will and a sense of responsibility.

Q: What inspired the speaker to pursue filmmaking?

The speaker felt a frustration in his ability to capture and convey the stories and narratives he encountered during his research. He recognized that there were so many interesting stories to be told, beyond just isolated data points. This realization inspired him to use the medium of filmmaking to capture and share these narratives. By making documentaries, he hoped to bring attention and highlight the significance of these stories.

Q: What does the speaker hope to achieve in the next 15 years?

The speaker expresses a desire to continue his work and enjoy what he is doing. He hopes that winning the prize will open doors for him and allow for more meaningful interventions and research. He aims to make a case for the importance of addressing poverty-related issues and hopes that his voice will be heard more effectively. Overall, he does not envision a significant change in his lifestyle but hopes to continue making a positive impact.