. Around 700 million people still live in extreme poverty worldwide, and the prize committee said the winners' research could be an important tool in tackling it.
The Royal Swedish Academy of Sciences gave the shared award on Monday to Abhijit Banerjee and Esther Duflo of MIT and Michael Kremer of Harvard, noting that their collective research has led to remedial teaching programs for five million Indian children and subsidized preventive healthcare programs in developing countries.
Banerjee and Duflo, who are married, have produced many research papers and two books together, including the highly praised 2011 bookand their work is complementary to Kremer's. The three, who have also collaborated, brought a radical new approach to developmental economics. They have proven the effectiveness of taking an experimental approach typically seen in clinical trials, utilizing randomized control trials.
For the past three decades, they have shown the effectiveness of reducing large-scale poverty in countries like India and Kenya by seeing the problem as a holistic one with many parts, tied to access to education and healthcare from childhood. The best introduction to this approach is "Poor Economics," but we've compiled some further reading, as well as a short talk from each winner that you can watch.
Nobel Prize..
Banerjee supports UBI :) YangGang
Trump should have won. Record minority employment.
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Economists shape our world, and luckily the Nobel Prize Committee understands them | OpinionHere's to you, Professors Banerjee, Duflo and Kremer. Congratulations! Now tell me whether we should increase or decrease aid to developing nations. Using very short words, please. Good deeds don't need a reward. We don't live in 'our world' Sorry to burst your bubble
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