Phenominal Work on Eradicating Global Poverty
Indian-born Abhijit Banergy has won and shares this year’s Economics Nobel Price with his wife Esther Duflo and Harward Proffessor Michel Cremer. India is proud of his achievement and the Nobel prize is for their test based approach to eradicate global poverty.
Both Afijith and his wife Esther are working as professors at Massechusets Institute of Technology (MIT) in USA. Abhijit Banerjee is one of the directors of J-Pal, the poverty action lab which conducts intense research on poverty alleviation. Cremer is the Professor of developing societies at Harvard University. He is also the developer of Cremer’s-O- Ring theory.
Global Fight Against Poverty
More than 70 million people worldwide suffer from extreme poverty. Their experiments help to improve the global fight against poverty. The experimental approach also helps to make a major shift in the development-oriented economics. According to the Nobel committee the causes and effects of poverty should be understood and implemented without cost.
Experimental Approach to Improve Education and Health Care Sectors
Their research has shown remarkable benefits in the areas of education and health care.
In India, many children are forced to leave their school without even getting basic education due to extreme poverty. The educational quality of over 50 lack children in India has been improved as the direct result of their research.
Several countries have implemented their proposals of giving large-scale subsidies for health care through disease control.
Abhijit is the second Indian who receives Nobel prize for economics. In 1998, Amartya Sen had received Economics Nobel prize for his comprehensive contribution to economics welfare.
According to Abhijit Banerjee Indian economy is weak devoid of the growth we have witnessed in the last few years and he says “ analyzing the current record of economic growth, there is no guarantee that the economy will revive in the near future”.
“I was able to prove that women can also win and their achievements can be recognized. This will be a motivation for a lot of women worldwide. It will also be a motivation for men to give women the recognition they deserve” – Esther Duflo
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