Michael Faye and Paul Niehaus on GiveDirectly

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4.7 • 4.3K Ratings

🗓️ 6 December 2021

⏱️ 74 minutes

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Summary

Economic theory teaches that people make choices that provide them with the greatest benefit. So why not extend this idea to the realm of charity? Economists and social entrepreneurs Michael Faye and Paul Niehaus of GiveDirectly argue that giving people cash with no strings attached is the most cost-effective means of helping the poorest people in the world and their communities.

Transcript

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0:00.0	Welcome to Econ Talk, Conversations for the Curious, part of the Library of Economics
0:07.0	and Liberty.
0:08.0	I'm your host, Russ Roberts of Shalem College in Jerusalem and Stanford University's Hoover
0:13.0	Institution.
0:14.0	Go to econtalk.org where you can subscribe, comment on this episode and find links down
0:18.6	the information related to today's conversation.
0:21.6	You'll also find our archives, but every episode we've done going back to 2006.
0:26.8	Our email address is mail at econtalk.org.
0:30.3	We'd love to hear from you.
0:37.8	Today is October 27th, 2021.
0:39.8	My guests are economists and social entrepreneurs, Michael Fay and Paul Niehaus together with
0:46.9	Robert Wenshue and Jeremy Shapiro.
0:49.2	They founded Give Directly, an organization that gives cash to desperately poor people.
0:55.0	Once the president of Give Directly now and Paul is also a professor of economics at
1:00.1	UC San Diego is the chair of the Good Directly Board.
1:04.0	Michael and Paul, welcome to econtalk.
1:05.8	Thanks, Russ.
1:06.8	Thanks for that.
1:07.8	Thanks for that.
1:08.8	Our topic today is the use of cash transfers, giving away money with fewer any strings as
1:14.4	a way to fight poverty.
1:16.5	Michael, aren't you start and tell us how Give Directly got started when that was and what's
	...

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