Indian-American economist Raj Chetty awarded top Harvard University prize
By Team Newsable | First Published Aug 15, 2023, 2:45 PM ISTRaj Chetty, Professor of Economics at Harvard University, is also director of Opportunity Insights, a group of economists based at Harvard who study inequality. He won for wielding big data to break myths about who achieves the American Dream and the obstacles faced by others.
Indian-American economist Raj Chetty has been awarded the coveted George Ledlie Prize for wielding big data to break myths about who achieves the American Dream and the obstacles faced by others.
Along with Chetty, Dr. Michael Springer, a systems biologist and professor at the Harvard Medical School, received the prestigious George Ledlie Award for his work developing a more rapid and accurate COVID test method to combat the disease's spread. The new Harvard University Clinical Laboratory (HUCL), which oversaw testing and samples, was likewise designed and run by Springer.
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Chetty, Professor of Economics at Harvard University is also director of Opportunity Insights, a group of economists based at Harvard who study inequality.
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"The American Dream is becoming more accessible to everyone thanks to Raj's innovative research on economic mobility and his efforts to inform policymakers about this information," according to University Provost and Chief Academic Officer Alan M. Garber.
"Mike and Raj are eminent scientists who have made significant contributions to their respective fields of study. However, they are also devoted to enhancing the welfare of other people, both now and in the future," he added.
The honour is given "no more frequently than every two years to a member of the Harvard community who has made the most valuable contribution to science, or in any other way for the benefit of mankind," the institution stated in a press statement on August 9.
Chetty claimed that his interest in this work was sparked by his personal past, which included moving to the US from India with his parents at the age of nine. He said he saw the disparities not only between New Delhi and the US but also between himself and his cousins.
Chetty's prior research centred on the American Dream's waning, neighbourhood diversity, and the importance of a child's environment as a major factor in economic mobility. He has now examined additional elements, such as the significance of racial differences, social capital, and relationships. Chetty said the recognition of his work with the Ledlie Prize has meant a lot in part because of its recognition of economics as a science.
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