Indian Origin American Abhijit Banerjee is among the three who will receive the 2019 Nobel Prize for Economics. The Royal Swedish Academy of Sciences made this announcement a little while ago for their experimental approach to alleviating global poverty. The prize is officially known as the ‘Bank of Sweden Prize in Economic Sciences In Memory Of Alfred Nobel’.
Banerjee was born in Kolkata and completed his B.S and M.A degrees in Economics in the country. Later, he went on to obtain a Ph.D. in economics at Harvard in 1988. The Nobel Prize for Economics was not originally created by the prize founder, but it is considered to be part of the Nobel stable of awards.
The prize was created by Riksbanken, the Swedish central bank, in 1968, and the first winner was selected a year later. The research conducted by the 2019 Economic Sciences Laureates has considerably improved our ability to fight global poverty. In just two decades, the academy opined.
The Glory will also come with a 9 million-kronor ($918,000) cash award, a gold medal, and a diploma. Their awards will be given away on December 10th which is the anniversary of Nobel’s death in 1896 in Stockholm.