Posted by: Jeff | May 25, 2010

Quote of the Day

Esther Duflo and Abhijit Banerjee in their book The Economic Lives of the Poor:

“the world’s poor typically spend about 2 percent of their income educating their children, and often larger percentages on alcohol and tobacco….The indigent also spend significant sums on soft drinks, prostitution and extravagant festivals.”

Via Bill Easterly.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: