Esther Duflo on The Power of Data in Decision Making

Esther Duflo, MIT professor of development economics and co-founder of the Jameel Poverty Action Lab, speaks at CEP's May 2011 conference. She discusses the relevance and efficacy of foreign aid and argues for a "venture capital" approach to investments in developing countries. Duflo observes that sometimes you save money by paying people, discusses the continuous nature of the benefits of education, and explains why the poor often choose not to buy insurance despite suffering from great risk.