ECONOMY
ABHIJIT BANERJEE IS JNU ALUMNUS
Nobel Prize in Economics won by Banerjee, Duflo and Kremer for fighting poverty
- Team PT
Nobel Prize in Economics won by Banerjee, Duflo and Kremer for fighting poverty



Three researchers with an "experimental approach to alleviating global poverty" have won this year's Nobel in economics, the Royal Swedish Academy of Sciences says. 

The prize was won by French-American researcher Esther Duflo, her fellow MIT researcher Abhijit Banerjee, and Michael Kremer at Harvard, the New York Times reports. 

Esther Duflo 
 
This year's laureates, the academy says, have "introduced a new approach to obtaining reliable answers about the best way to fight global poverty." It "involves dividing this issue into smaller, more manageable questions—for example, the most effective interventions for improving educational outcomes or child health." Their findings have "dramatically improved our ability to fight poverty in practice," the academy says. 
 
Duflo is the second woman to win the prize in its 50-year history. The 46-year-old is also the youngest-ever winner.

 "It really reflects the fact that it has become a movement, a movement that is much larger than us,” Professor Duflo said, speaking at a news conference shortly after learning of the award reports New York Times.

Abhijit Banerjee 
 
More than 5 million Indian children have benefited from effective remedial tutoring thanks to one of their studies, the release noted, while other work of theirs has inspired public investment in preventive health care.

Who are the winners?

Abhijit Banerjee, born in 1961 in Mumbai, earned his doctorate from Harvard. He is the Ford Foundation International Professor of Economics at the Massachusetts Institute of Technology. 
Michael Kremer 
 
Esther Duflo, born in 1972 in Paris, is the second woman and the youngest person to be awarded the economics prize. She has a doctorate from M.I.T., where she is the Abdul Latif Jameel Professor of Poverty Alleviation and Development Economics. She is married to Abhijit Banerjee.

Michael Kremer, born in 1964, has a doctorate from Harvard, where he is the Gates Professor of Developing Societies.

Who won the 2018 Nobel for economics?

William Nordhaus and Paul Romer, who have studied climate change and technological innovation, were honored last year. Professor Nordhaus, of Yale University, is a proponent of a tax on carbon emissions as a way to address climate change. Although he has convinced many members of the economics profession about the benefits of a carbon tax, the federal government has yet to adopt one.

Professor Romer, of New York University, was cited for demonstrating how government policy could drive technological change. He noted the success of efforts to reduce emissions of ozone-depleting chlorofluorocarbons in the 1990s.

Who else has won a Nobel Prize this year?

The Nobel Peace Prize was awarded to Abiy Ahmed, the prime minister of Ethiopia, for his work in restarting peace talks with Eritrea and restoring some freedoms in his country after decades of repression.

The prize for medicine and physiology was awarded to William G. Kaelin Jr., Peter J. Ratcliffe and Gregg L. Semenza for their work in discovering how cells sense and adapt to oxygen availability.

The prize for physics went to three scientists who transformed our view of the cosmos: James Peebles, a cosmologist, shared half of the prize with two astronomers, Michel Mayor and Didier Queloz.

The prize for chemistry was awarded to three scientists who developed lithium-ion batteries: John B. Goodenough, M. Stanley Whittingham and Akira Yoshino will share the prize.

The prize for literature was awarded to Olga Tokarczuk, a Polish author, and Peter Handke, an Austrian writer. Mr. Handke won this year’s prize, while Ms. Tokarczuk won the 2018 prize, which had been postponed for a year because of a scandal at the academy.
 

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