Second Woman and Youngest-ever to Win a Peace Prize

Three Americans on Monday have won the Nobel Economics Prize for their work in alleviating poverty.

Among the trio is Esther Duflo, the second woman and youngest-ever economics laureate to win the prize.

The French American-based economists Esther Duflo, Abhijit Banerjee and Michael Kremer won the 2019 Nobel Economics Prize for their work in fighting poverty that has helped millions of children across India and Africa

Ms Duflo becomes only the second woman to win the economics prize in its 50-year history, as well as the youngest at 46.

She shared the award equally with Indian-born American Mr Banerjee – who is also her husband and Mr Kremer, also of the United States.

She has demonstrated that it is possible for a woman to succeed and be recognised for success.

The Royal Swedish Academy of Sciences says their work had shown how poverty could be addressed by breaking it down into smaller and more precise questions in areas such as education and healthcare, and then testing solutions in the field.

The academy says the results of their studies and field experiments had ranged from helping millions of Indian schoolchildren with remedial tutoring to encouraging governments around the world to increase funding for preventative medicine.

Ms Duflo told reporters in Stockholm that it starts from the idea that the poor are often reduced to caricatures and even the people that try to help them do not actually understand what are the deep roots of (their) problems.

The team pioneered random controlled trials, or RCTs, in economics. Long used in fields such as medicine, an RCT could for example take two groups of people and study what difference a treatment makes on one group while the other group is only given a placebo.

Applied to development economics, such field experiments found for example that providing more textbooks and free school meals had only small effects, while targeting help for weak students made a big difference to overall educational levels.

She hopes that her recognition will inspire many other women to continue working and many other men to give them the respect that they deserve.

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