Recently, three economists won the Nobel prize for their work in studying how to improve people's health and lift them out of poverty. They used randomized control trials to draw their conclusions. Large numbers of participants were randomly chosen to either get a standard treatment or to receive a more specialized intervention.
In Kenya, these researchers ran trials to discern which conditions students learn best under. They discovered that even when a school offers extra resources like free meals and textbooks, students did not perform much better. However, studies in India indicate that offering targeted tutoring is a much better way to support the educational needs of students.
The group also conducted a study that showed improved livelihoods of low and middle-income countries when they were supplied with a two-year aid package that included food, health care services, money, and skills advice.
Other studies that this group conducted can be applied to inform policymakers concerning the subsidizing of health care treatments. For example, the team discovered that parents in low-income countries are much more likely to give their children deworming pills if they are free rather than if they are highly subsidized.
The randomized methods which were used in these trials offer the objectivity that many other methods cannot give. The Nobel Committee believes that these findings will improve the ability and practice of fighting poverty.
https://www.nytimes.com/2019/10/14/business/nobel-economics.html
I find it interesting that targeted tutoring best supports the educational needs of students. You would think that fulfilling their dietary and nutritional needs would more effectively improve focus and as a result, their performance. However, it does make sense that parents are more likely to give their children deworming pills if they are free. I think these are all important and interesting findings, but I would like to know how exactly these findings will improve the ability and practice of fighting poverty. How are they being used to combat poverty?
ReplyDeleteThis is an interesting take on how the study of economics can help understand and solve problems such as poverty and educational barriers. I would also like to know what came out of these trials, where or if the findings were implemented, and what further research has been done since.
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