The 2019 Nobel Prize in Economics was awarded this week to three development economists, Michael Kremer, Esther Duflo and Abhijit Banerjee. Over the past ten years they have worked on finding innovative and sustainable ways to alleviate global poverty. The key approach the group has applied to their research was to profoundly grounded in local experiences and realities, rather than simply theorizing from an academic distance.
One of their major conclusions was that a lack of adequate and well-targeted education along with properly supplied health-care are intimately connected with the perpetuation of poverty.
Analyzing the work of the three prize winners, the Committee for the Nobel Prize in Economics emphasized that “Health systems in developing countries are often highly dysfunctional. A recent estimate suggests that the majority of deaths in low- and middle-income countries are due to a poor quality of care”.
Congratulations to the winners! Power to science, education and adequate, high quality health care!