Indian-American economist Abhijit Banerjee has won the 2019 Nobel Prize for Economics. The other two economists to have garnered the same prize are Esther Duflo and Michael Kremer.
Indian-American economist Abhijit Banerjee has won the 2019 Nobel Prize for Economics, along with the other two economists Esther Duflo and Michael Kremer. The husband-wife duo of Abhijit Banerjee and Esther Duflo created a record by winning the prestigious Nobel Prize for Economic Sciences. The prize is given for creating an experimental approach to alleviating global poverty, the Royal Swedish Academy of Sciences said on Monday. They share the prestigious award with American development economist Michael Kremer. Abhijit Banerjee is also known for being the advisor to Rahul Gandhi on the NYAY (Nyuntam Aay Yojana) scheme.
Both the parents of Abhijit Banerjee were professors of economics and he attended South Point School and Presidency College, Calcutta, where he completed his B.S. degree in economics in 1981. Later, he completed his M.A. in economics at the Jawaharlal Nehru University, Delhi in 1983 and went to Harvard for his Ph.D. in economics in 1988.
Presently, Abhijit Banerjee is the Ford Foundation International Professor of Economics at MIT. He also co-founded the Abdul Latif Jameel Poverty Action Lab. Being a research affiliate of Innovations for Poverty Action, he is also a member of the Consortium on Financial Systems and Poverty. In 2014, he received the Bernhard-Harms-Prize from the Kiel Institute for the World Economy.
Abhijit Banerjee also held the president post of the Bureau for the Research in the Economic Analysis of Development, a research associate of the National Bureau of Economic Research, a research fellow at the Centre for Economic Policy Research, an international research fellow of the Kiel Institute, fellow at the American Academy of Arts and Sciences, and a fellow at the Econometric Society.
“This year’s Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty,” the Royal Swedish Academy said in a statement. The Academy was founded in 1739 and has today about 440 Swedish and 175 foreign members. Membership in the Academy constitutes exclusive recognition of successful research achievements. The Academy appoints members of the Nobel Committee the working body, for a three-year term.