NOBEL PRIZE IN ECONOMICS WON BY BANERJEE, DUFLO AND KREMER FOR FIGHTING POVERTY...
Academics who pioneered on-the-ground experiments to discover the most effective ways to tackle poverty in the developing world have been awarded this year’s Nobel prize for economics . Abhijit Banerjee and Esther Duflo, of the Massachusetts Institute of Technology, secured the 9m Swedish krona (£720,000) prize with the Harvard professor Michael Kremer on Monday. The Swedish academy of sciences said they were awarded the Sveriges Riksbank prize in economic sciences, given in memory of Alfred Nobel, for research findings that have “dramatically improved our ability to fight poverty in practice”. Duflo, 46, who is only the second woman to win the economics prize and the youngest in the prize’s 50-year history, said she was surprised by the award, especially as it was usually bestowed on older, more experienced academics. Asked if it was important that a woman was recognised by the academy, she said: “Showing that it is possible for a woman to succeed and be recognised for success I hop...