Nobel Prize

Nobel laureate Joseph Stiglitz calls for the end of GDP

Joseph Stiglitz
Joseph Stiglitz. Photo: Julia Reinhart/Getty Images

Nobel laureate Joseph Stiglitz renewed calls to retire the gross domestic product, or GDP, as the go-to economic indicator.

The big picture: Calls to revamp GDP, no matter how unlikely, are no longer coming from the corners of academia. They're seeping into the mainstream.

MIT, Harvard professors win Nobel Prize in Economics for research on poverty

The winners of the 2019 Nobel prize in economic science.
Photo by Jonathan Nickstrand/AFP/Getty Images

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.

Go deeper: Ethiopian Prime Minister Abiy Ahmed wins Nobel Peace Prize