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Enterprise and Society Advance Access published online on November 7, 2009
Enterprise and Society, doi:10.1093/es/khp083
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© The Author 2009. Published by Oxford University Press [on behalf of the Business History Conference]. All rights reserved. For permissions, please e-mail: journals.permissions@oxfordjournals.org.

Daryl Collins, Jonathan Morduch, Stuart Rutherford, and Orlanda Ruthven. Portfolios of the Poor: How the World's Poor Live on $2 a Day.

Daryl Collins, Jonathan Morduch, Stuart Rutherford, and Orlanda Ruthven. Portfolios of the Poor: How the World's Poor Live on $2 a Day. Princeton, NJ: Princeton University Press, 2009. ix + 283 pp. ISBN 978-0-691-14148-0. $29.95 (paper).

The first 10% of the full text of this article appears below.

Inductivism is an important complement to the formal deductive models that prevail in the Economics profession. This is certainly the case with developing countries where observing how the real world functions could result in insights that might be useful to policymakers. This book is a major breakthrough in understanding how the masses of poor developing countries manage not only to survive, but even to improve their lot.

The authors interviewed two hundred and fifty poor households in three countries (Bangladesh, India, and South Africa) twice a month for a period of one year, and from the data collected they constructed "financial diaries, showing . . . [Full Text of this Article]

Werner Baer

University of Illinois at Urbana-Champaign


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