MIT, Harvard professors win Nobel Prize in Economics for research on poverty
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Three professors who studied ways to alleviate poverty won the Nobel Prize in Economic Science on Monday, the AP reports.
Why it matters: With their research, Abhijit Banerjee and Esther Duflo, both of MIT, and Michael Kremer of Harvard introduced a new approach to addressing global poverty by dividing the issue into more manageable questions. Duflo, 46, is the youngest person and 2nd woman ever to receive a Nobel Prize in Economics.