On today’s Planet Money:
Economists at the World Bank calculate that 2.5 billion people live on $2 a day, but what exactly does that mean? In the developed world, living on so little would be almost unthinkable. For 40 percent of the global population, $2 a day is a reality that must, somehow, be made to work.
In Portfolios of the Poor, Daryl Collins and co-author Jonathan Morduch uncover the surprisingly complex financial lives of the most destitute people.