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Abhijit Banerjee, Esther Duflo, Michael Kremer win 2019 Nobel Economics Prize for study on poverty

Indian-American Abhijit Banerjee, his wife Esther Duflo and Michael Kremer jointly won the 2019 Nobel Economics Prize on Monday “for their experimental approach to alleviating global poverty.”; their new experiment-based approach has transformed development economics, which is now a flourishing field of research.

At 46, Paris-born Duflo is the youngest ever – and only second woman (after Elinor Ostrom in 2009)– to win an economics Nobel.

Banerjee and Duflo also became the sixth husband-wife couple to be awarded the Nobel, although some won it together (Marie and Pierre Curie for the discovery of polonium and radium) and some won it separately in different years (Gunnaar Myrdal for Economics in 1974 and Alva Myrdal in 1982 for for Peace).

FACTS AND FIGURES

  • In 1968, Sveriges Riksbank (Sweden’s central bank) established this Prize in memory of Alfred Nobel, founder of the Nobel Prize.
  • The oldest Laureate in Economic Sciences to date is Leonid Hurwicz, who was 90 years old when he was awarded in 2007. He is also the oldest Laureate to be awarded in all Prize categories.
  • To date, the youngest Laureate in Economic Sciences is Esther Duflo followed by Kenneth J. Arrow, who was 51 years old when he was awarded in 1972.
  • Elinor Ostrom was the first female Laureate in Economic Sciences. Elinor Ostrom was awarded the Prize in 2009.

 

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