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October 14, 2019

Nobel Economics Prize Goes to Pioneers in Reducing Poverty

by M J Farah

By Jeanna Smialek

Three professors, Abhijit Banerjee and Esther Duflo, both of M.I.T., and Michael Kremer of Harvard, were honored.

Abhijit Banerjee and Esther Duflo, both of M.I.T., and Michael Kremer of Harvard University won the Nobel Memorial Prize in Economic Sciences.
Abhijit Banerjee and Esther Duflo, both of M.I.T., and Michael Kremer of Harvard University won the Nobel Memorial Prize in Economic Sciences.CreditCreditJonathan Nackstrand/Agence France-Presse — Getty Images

Abhijit Banerjee and Esther Duflo of M.I.T. and Michael Kremer of Harvard have devoted more than 20 years of economic research to developing new ways to study — and help — the world’s poor.

On Monday, their experimental approach toward poverty alleviation won them the 2019 Nobel Memorial Prize in Economic Sciences. Dr. Duflo, 46, is both the youngest economics laureate ever and the second woman to be honored.

The three researchers study problems like education deficiencies and child health scientifically. They break issues into smaller questions, search for evidence about which interventions work to resolve them, and seek practical ways to bring those treatments to scale.

“In just two decades, their new experiment-based approach has transformed development economics, which is now a flourishing field of research,” the Royal Swedish Academy of Sciences said in a statement.

Source: The new York times 14/10/19

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