Abhijit Banerjee Quotes


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“Amor patriae” is Latin for “love of country”. Jefferson had a strong prejudice against cities, merchants, factories and economic entities other than farms or plantations. Despite his brilliance and amazing predictive ability, Jefferson’s prejudice caused him to challenge Alexander Hamilton’s view of the economic future of America. Fortunately, Jefferson and his views did not prevail.


Essentially Mellon told the President to let the entire economy crash. With huge numbers of people out of work, labor would be more humble and not only settle for lower wages, but will work harder, and without "excess" income beyond their basic needs, they would not drink and engage in other immoral activities. President Hoover, a wealthy man himself, did not go along with Mellon's idea of making the situation worse, but his conservative philosophy of government would not allow the Government to "interfere" with the private economy or give any direct assistance to the citizens.


Abhijit Banerjee
Abhijit Banerjee
  • Born: February 21, 1961
  • Nationality: American
  • Profession: Economist

Abhijit Vinayak Banerjee is an Indian-born American economist who is currently the Ford Foundation International Professor of Economics at Massachusetts Institute of Technology. Banerjee shared the 2019 Nobel Memorial Prize in Economic Sciences with Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty". He and Esther Duflo, who are married, are the sixth married couple to jointly win a Nobel Prize.