Congratulations to Faculty Associate Michael Kremer, Gates Professor of Developing Societies, Department of Economics at Harvard University, for winning the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2019. He shares the prize with Abhijit Banerjee and Esther Duflo of the Massachusetts Institute of Technology, and the three won “for their experimental approach to alleviating global poverty.”
The three Laureates use an experiment-based approach to fight global poverty, by breaking down larger problems into smaller and more precise questions. This approach allows them to design more specific experiments among the people most affected. From improving school results in western Kenya to introducing preventive health care subsidies in many countries, the research done by Kremer and his colleagues has measurably helped reduce poverty around the world.