What is it like to be extremely poor?
We know that the extremely poor are living on less than what $1.25 a day could buy in the United States. But this seems implausible. Wouldn’t someone with that little money just end up dying of starvation very quickly? Simulations like Living Below the Line can only go so far. It’s difficult to understand what it’s like to be that poor.
However, it’s now becoming a bit easier to understand. Abhijit V. Banerjee and Esther Duflo, authors of the popular book Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty and co-founders of The Abdul Latif Jameel Poverty Action Lab, have written a paper called “The Economic Lives of the Poor”. Using survey data from thirteen different countries, Banerjee and Duflo are able to tell the tale of life as a poor person.
Here’s an informative summary of their research.