The 2019 Nobel Prize in Economics was given to Banerjee, Duflo and Kremer for their research about poverty.
They took nearly 20 years going down to places stricken with poverty, such as Africa and Southeast Asia, and conducted experiments-based comparison and research to discover the most effective solutions to tackle poverty.
They realise that the poor were very much lacking in the aspects of health, education and funds. Fortunately, specific methods can help them overcome the problem, ultimately breaking free from poverty.
Regarding the award, many people held differing views, as their contribution was vastly different from the traditional way economics were applied - through statistics.
But once we really understand the lives of the poor, we will understand the immense significance in their research.
While China has seen exceptional results in tackling poverty, we too require such professionals in guiding our efforts to overcome poverty.
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