Winning The Nobel : Planet Money Esther Duflo and Abhijit Banerjee talk about their work and what happens when you win a Nobel Prize.
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Winning The Nobel

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Winning The Nobel

Winning The Nobel

Winning The Nobel

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CAMBRIDGE, MA - OCTOBER 14: Esther Duflo and Abhijit Banerjee, who share a 2019 Nobel Prize in Economics with Michael Kremer, answer questions during a press conference at the Massachusetts Institute of Technology. Scott Eisen/Getty Images hide caption

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CAMBRIDGE, MA - OCTOBER 14: Esther Duflo and Abhijit Banerjee, who share a 2019 Nobel Prize in Economics with Michael Kremer, answer questions during a press conference at the Massachusetts Institute of Technology.

Scott Eisen/Getty Images

The Nobel Prize in economics is a big deal, professionally and financially. It can inject rocket fuel into a winner's career, and comes with a fat paycheck: a million Swedish crowns, which is about a million U.S. dollars.

Of course, the taxman will take a hefty chunk out of the prize. And sometimes, there are multiple winners who have to split the pot. That's what happened this year; economists Abhijit Banerjee, Esther Duflo and Michael Kremer all won the prize together. Their research applies economic principles to problems in the developing world. They have worked on improving school attendance, children's health, crop yields and social conditions for millions of people across Africa and India. The Nobel committee estimated the work of the three economists has impacted millions of lives.

Today on the Indicator we talk with two of the prizewinners: Esther Duflo, who is the youngest person to ever win the economics prize and Abhijit Banerjee, who is also Duflo's husband.

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