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Abhijit Banerjee awarded Nobel Memorial Prize in Economic Sciences

Abhijit Banerjee
Abhijit Banerjee
Source:- Twitter

Abhijit Vinayak Banerjee is an Indian origin American Economist. He was born in 1961 and recently shared the 2019 Nobel Memorial Prize in Economic Sciences along with Esther Duflo and Michael Kremar “for their experimental in alleviating Global Poverty”.

Banerjee is the Ford Foundation Professor of Economics at Massachusetts Institute Of Technology. Banerjee is co-founder of Abdul Latif Jameel Poverty Action Lab. He is a research affiliate of Innovation for Poverty Action, and a member of the Consortium on Financial Systems and Poverty.

Abhijit Banerjee was born in Calcutta. His mother Nirmala Banerjee was a professor of economics at Centre of Studies for Social Sciences and father Deepak Banerjee HOD of Economics in Presidency University.

Abhijit Banerjee was also arrested in Tihar Jail during a protest after students ‘gheroed’ but later he was released on bail and also charges against him was dropped. Later he went to Harvard University for PHD in Economics.

His work focuses on development economics. He was elected a fellow of the American Academy of Arts and Science in 2004. He was also awarded Infosys prize in 2009 in social sciences category of social science.

In 2012, he shared Gerald Loeb award along with his co author Esther Duflo for their book poor economics.

On being asked about Indian economy he said,”The economy is doing very badly in my view,” he told a press conference at the Massachusetts Institute of Technology.

When asked his opinion on the state of economy in India he replied, “That’s a statement not about what will work in the future but about what’s going on now. That I’m entitled to have an opinion about.”

Referring to the numbers put out by the National Sample Survey, that come out every 1.5 years and give estimates about the average consumption in urban and rural areas in India, Mr Banerjee said, “the fact that we see in that is that between 2014-15 and 2017-18, that number has slightly gone down. And that’s the first time such a thing has happened in many many many many many years so that’s a very glaring warning sign.”

Whole Social Media is flooded with praises for the Economist.



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