ABSTRACT
The most compelling explanation for the marked shift in the fortunes of the poor is that ... [we] had changed the rules of their world ... The first effect of the new rules was to make it profitable for the poor to behave in the short term in ways that were destructive in the long term. Their second effect was to mask these long-term losses-to subsidize irretrievable mistakes. We tried to provide more for the poor and produced more poor instead. We tried to remove the barriers to escape from poverty, and inadvertently built a trap.
