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Importance of Abhijit Banerjee's Nobel Prize

Indian-origin American economist Abhijit Banerjee shared this year's Nobel prize for economics with Esther Duflo and Michael Kremer for their randomised control trial experiment approach to rid the world of poverty.

Indian-origin American economist Abhijit Banerjee shared this year's Nobel prize for economics with Esther Duflo and Michael Kremer for their randomised control trial experiment approach to rid the world of poverty. It is believed that this approach has contributed significantly in the past two decades, with people comparing it with even the gold standard method. Is this comparison a bit too much? Can this approach solve all the problems of economics? Or is it useful only for the problems related to macroeconomics? Answers NewsClick Editor-in-chief Prbair Purkayastha.

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