Pill for poverty: why they gave the Nobel Prize in economics - ForumDaily
The article has been automatically translated into English by Google Translate from Russian and has not been edited.
Переклад цього матеріалу українською мовою з російської було автоматично здійснено сервісом Google Translate, без подальшого редагування тексту.
Bu məqalə Google Translate servisi vasitəsi ilə avtomatik olaraq rus dilindən azərbaycan dilinə tərcümə olunmuşdur. Bundan sonra mətn redaktə edilməmişdir.

Pill from poverty: for what they gave the Nobel Prize in economics

Michael Kremer from Harvard and his followers and colleagues, spouses Esther Duflo and Abhijit Banerjee from the Massachusetts Institute of Technology for their research on poverty reduction received the Nobel Prize in economics. Writes about it with the BBC.

Фото: Depositphotos

The world is spending billions to fight poverty. Collects money for toilets in India, water pipes in Africa, schools in Latin America. What if all this is in vain? How can you be sure which cure for poverty works and which is a placebo or even poison? Since we are talking about money, this is a question for economists. It was for their persistent search for an answer to this question that three of them received almost a million dollars and the Nobel Prize in Economics.

The prize, which formally is not a Nobel Prize, but is presented at the same ceremony and by the same committee, will be shared equally by scientists from leading US universities: Michael Kremer from Harvard and his followers and colleagues, spouses Esther Duflo and Abhijit Banerjee from the Massachusetts Institute of Technology.

“They developed a new approach to finding solutions to fight poverty. They broke a big problem into many small questions and proved that the best way to find answers is through field experiments." substantiated its decision Swedish Academy of Sciences.

On the subject: 40% US Nobel Prize Laureates

What is the essence of the discovery

The young economics science decided to follow the path of its older sister - medicine, in which similar experiments have long been used in clinical studies of the effectiveness of drugs.

“Economic science in the 21st century must repeat the path taken by medicine in the 20th century. This is a difficult path of trial and error, discussion and experimentation,” Duflo spoke.

“Medical science has not yet given the world a pill for all diseases, but modern doctors save millions of lives every year. We economists must achieve the same.”

In search of a panacea, Duflo and Banerjee created an “anti-poverty laboratory” - Poverty action lab, in order to attract scientists from around the world to field experiments.

They showed that only through experimentation can we discover which economic and social policies best reduce poverty and its consequences. And to do this, you will have to come down to earth from the political and academic heavens, leave the comfort of your office and go to the Indian village. And then - to the African one.

Which they did.

“In business and technology, we experiment, find the most effective way - and implement it. Why not do the same in social policy?” Duflo wondered. Experiments sometimes yielded unexpected results. Thus, in studying the effects of spending money on education among the poor, scientists found that traditional subsidies—extra teachers, free lunches, school uniforms, and scholarships—increased educational coverage.

On the subject: Journey into the past of the universe: what is the merit of the Nobel Prize winners in physics and chemistry

However, the effect on each dollar invested was 15 times greater when the same money was spent on an information campaign explaining the benefits and advantages of education. And 10 times more if you spend the same money on deworming — control of parasites, which, according to the World Health Organization, “hold back the physical and cognitive development of children, limit educational progress and delay economic development.”

Prior to this experiment, it never occurred to anyone to make the fight against parasites in the stomachs of children a priority in educational expenses. But as soon as they learned about its results at the annual rally of big business and politicians in Davos, in just a year there was money to deworm 20 million school-age children in 26 countries.

Such experiments were noted by the Nobel Committee.

“Their methods have now become the dominant mode of experimental research in economics to study development problems,” the academy said.

For several years now, she has been trying to give bonuses to economists who are occupied with problems that are accessible to the common man. Last year, Paul Romer and William Nordhouse received it.who have advanced economic science one step closer to solving the main issue: how to avoid crises in order to eradicate poverty and inequality in the world faster. And how climate change affects the economy.

On the subject: 'Overlap cancer oxygen': for which they gave the Nobel Prize in medicine

This time the award is even more “popular,” rejoices leading Russian economist Konstantin Sonin.

“Wonderful prize! This time it will be especially easy to answer the question “who needs this and why?” Because everyone,” he wrote on his blog.

Sonin had long anticipated the Duflo and Banerjee award, noting that “until the advent of field experiments, there were no precise methods for analyzing the consequences” of anti-poverty spending.

Their experience would be useful in Russia, says Sonin, professor at the University of Chicago and the Higher School of Economics:

“In our country, programs are not evaluated using randomized experiments, but in vain - this is about the same lag in technological terms as if officials were banned from using mobile communications. Life would continue, but efficiency would decrease.”

Read also on ForumDaily:

Not Trump: it became known who received the 2019 Nobel Peace Prize of the year

40% US Nobel Prize Laureates

Journey into the past of the universe: what is the merit of the Nobel Prize winners in physics and chemistry

Two Americans and a British received the Nobel Prize in medicine: what is their merit

'Overlap cancer oxygen': for which they gave the Nobel Prize in medicine

economy Nobel Prize World
Subscribe to ForumDaily on Google News

Do you want more important and interesting news about life in the USA and immigration to America? — support us donate! Also subscribe to our page Facebook. Select the “Priority in display” option and read us first. Also, don't forget to subscribe to our РєР ° РЅР ° Р »РІ Telegram  and Instagram- there is a lot of interesting things there. And join thousands of readers ForumDaily New York — there you will find a lot of interesting and positive information about life in the metropolis. 



 
1081 requests in 1,097 seconds.