Abhijit Banerjee, Esther Duflo and Michel Kremer won the Nobel Prize for economics 2019.
On the 14th of October, the Royal Swedish Academy of Science announced Abhijit and his wife Ms. Duflo and Michael Kremer won the Nobel Prize for their research to eradicate poverty globally.
Mr. Banerjee and his wife Ms. Duflo are professors at the Massachusetts Institute of Technology (MIT,) who researched to find solutions to challenge poverty in the world.
In the research paper, Mr. Abhijit and Ms. Duflo mentioned about the ways to fight poverty and established a connection between barefoot children, whooping cough and drop out kids in Africa due to poverty. The research states, “To reduce the poor to a set of clichés has been with us for as long as there has been poverty. The poor appear, in social theory, as much as much in literature, by turns lazy or enterprising, noble or thievish, angry or passive, helpless or self sufficient.”
When asked about his opinion about the Indian economy during a telephonic interview, Mr. Banerjee said, “There is an enormous fight going on in India about which data is right and the government has a particular view of (that) all data that is inconvenient to it is wrong. But nonetheless, I think that this is something that I think even the government is increasingly recognising that there is a problem. So the economy slowing very very fast. How fast we don’t know, there is this dispute about data but I think fast.”
Esther Duflo is the second and youngest woman to be awarded the Nobel Prize for Economics.
Abhijit Banerjee, Esther Duflo and Michael Kremer will share the award and the prize money.
Stay tuned for further updates.