22. Entrepreneurs and Workers
MIT 14.73 The Challenge of World Poverty, Spring 2011
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Instructor: Abhijit Banerjee
License: Creative Commons BY-NC-SA
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https://www.entrepreneurs.vip
7:00 Who is an entrepreneur?
10:50 Risk
11:28 Key part of being an entrepreneur
15:45 Who is and isn’t an entrepreneur?
20:00 12% of the rich countries are self-employed
20:10 Higher % in the poor countries
24:12 Why is this surprising?
24:49 What are disadvantages of the poor with respect to the entrepreneurship?
35:10 What are advantages of the poor with respect to the entrepreneurship?
39:22 Why are the poor entrepreneurs?
53:00 Mexico’s poor
54:07 Do the poor feel entrepreneurial?
59:10 Are these profitable businesses?
1:04:13 Graph
1:07:26 Implications of this shape
1:09:43 why are they in businesses?
Lies again? WWE WWW Belts
No wonder he got Nobel prize. Profound concepts so simply explained.
@Help Me reach 50 subs i want to post communitypol Indian-American Abhijit Banerjee, economists Esther Duflo and Michael Kremer jointly won the 2019 Nobel Economics Prize “for their experimental approach to alleviating global poverty”.
Esther is his wife if you’re wondering.
( She’s of French descent ig)
@Gosain Anurag Rabindernath Sinh not that much. In the US you have to teach if you want to do research most of the time, so.. most researchers are instructors, and as for the opposite idk.
@Gosain Anurag Rabindernath Sinh and you too. hahahahha
@Gosain Anurag Rabindernath Sinh the way you comment indicates your level of intelligence (civility). yuck
there are these loooong breaks of silence when the students are just minding their own business on their own devices and the Prof. is revisiting his life decisions that led him to this moment!
@Ankush Tiwari whats the use of this knowledge I’d in end all they will do is write bank ssc
I think the Prof uses those long pauses strategically to get the students to dig a bit deeper. Have you ever spoken to a person and they pause for a while and in that moment you felt like you had to say something? I think it’s an effective way of getting someone to open up more without directly telling them to.
Those students searching alternative answers what he was questioning.
I think when you have security, the pressure is off… You can afford to ignore the pressure… The pressure is the imperative to survive… To quote Marvin Haggler, “It’s tough to get out of bed to do
roadwork at 5 am when you’ve been sleeping in silk pajamas.”
Thank you so much for making this comment available for the rest of the world. You are doing a priceless job!
Beautifully explains business starting process, entrepreneurship, I am now addicted to your Lectures Sir
We are confusing the idea of being an entrepreneur with being creative… Sometimes working while your competitor sleeps, or just out performing the market is your only advantage….
Give a lecture in India and students will treat you as guru.
Genuinely great learning…. trying to teach from the real world problem and Case studies…. very sad to see the students are browsing in the class…… anyway that is so called MIT….
1:05:56 They can’t grow the technology fast enough. With the one they can have, they can’t grow; the one that would make them grow, they can’t have it.
An entrepreneur is someone who creates a need in consumers they didn’t know they need.
@Philitron128″ capitalist ” and “business owner” already satisfy your definition. an innovator who can persuade a capitalist and/or a business owner to work with him is an entrepreneur. that’s how I understand it.
@Abdoulaye Diakité totally agree
@Nani Lama “Built”, he marketed a good product to consumers. Not exactly an innovator
@Philitron128 well he built the connection between the upcoming demand and the customer.
@jermaineconcern I don’t believe it is. Steve Jobs was clearly an entrepreneur but he never built anything.
All those quantum mechanics make this guy seem like a god
It’s the click bait. I clicked because I was wondering what sort of microeconomics had to be developed with those kind of equations.
why is 23. and 18. missing? Please can I get full course?
How the hell do you get into MIT then get into a really interesting class where you don’t even have to think very hard and the material should be of your chosen career interest, but then you decide to play video games on your 4 inch iPhone screen.
@No thing is sounds logical to me. I had this opinion that he was putting the concepts in such lucid style that you don’t miss the class. Probably that’s y. On the contrast let’s says, you feel like the topic sounds complicated, you pay lot more attention as you may think you can’t manage to understand if you miss this class. Just may be..!!
Honestly some people I know have fidgets. They can’t do one thing at a given time and it makes them nervous if their hands aren’t doing something or picking on something. Playing games or knitting help them listen or focus better on movies or lectures. That’s my experience.
@Jack Middleton Maybe the person who had the phone on was looking for some info and just got distracted for a moment. By the way, you can play and listen at the same time. I listened to most of these lectures while farming mobs in SWTOR. I can afford to do that because if I lose a tiny bit of information, it won’t matter as much. But the brain will associate the lecture with fun and will want to listen to it more in the future.
@kvnrthr 1 I agree with you. I actually can’t stand homework for that reason. It interrupts my own personal study schedule. But like I said this isn’t an engineering or a calculus class, he is just talking about what should be interesting to the students if they have decided to study in this field.
You can’t stay at 100% all the time lol. You’re watching this video at a time you choose because you’re searching for it, you can pause and resume it as you like, but sometimes you’re just plain tired, distracted or out of it. Doubly so if you’re forced to be there.
স্যার, দারুন লাগলো, from Dept of Economics(IGNOU)
আমি আপনার সাথে যোগাযোগ করতে চাই!
ভাইয়া
such an interesting topic and yet there is a student prefer to spend the time on social media while the class is running. 🤔
A poor person has to work 3x harder with 10 times less resources… all the while trying to make a higher profit margin than the rest of the competition in that market.
how to earn less than a minimum wage: start a business
Schrodinger equation agrees with this 😁
Very intelligent professor