2023 Nobel Prize in Economic Sciences Honors American Female Professor

Claudia Goldin is the third woman in history to win the Nobel Prize in Economics.

At 4:50 PM on October 9 (Hanoi time), the Royal Swedish Academy of Sciences announced that the Nobel Prize in Economics 2023 has been awarded to Claudia Goldin (USA). She received the award “for her contributions to understanding the impact of women on the labor market.”

Goldin, who is 77 years old this year, is currently a professor at Harvard University (USA). The Nobel Committee recognized Goldin as the first person to provide a comprehensive view of women’s income and contributions to the labor market.

She has gathered data about the United States over the past 200 years. The aim was to uncover the methods and reasons behind gender disparities in income and labor force participation rates.

The focus of her research is on how women’s choices have always been constrained by marriage and family responsibilities. Her study not only reveals new trends and identifies the causes of change but also delves directly into the main reasons for gender inequality.

“Understanding the role of women in the labor market is crucial for society. Thanks to the groundbreaking research of Claudia Goldin, we have learned more about the underlying factors and barriers that need to be addressed in the future,” remarked Jakob Svensson, Chairman of the Nobel Prize in Economics Committee.

Professor Claudia Goldin wins the Nobel Prize in Economics this year. (Photo: Harvard University).

Goldin’s research does not provide solutions. However, her findings are believed to help officials address issues that have persisted for many years.

Globally, approximately 50% of women are participating in the labor market, compared to 80% of men. However, women currently earn less and have fewer opportunities for career advancement than men, according to the Nobel Committee.

Among all Nobel Prizes, Economics is also the field with the fewest female representatives. After 55 years of awarding, only three women have ever received this prize: Elinor Ostrom in 2009, Esther Duflo in 2019, and Claudia Goldin this year.

Goldin is also the first woman to receive this award on her own. Both Ostrom and Duflo shared the prize with male colleagues.

Last year, the award was given to former Federal Reserve Chairman Ben Bernanke along with scientists Philip Dybvig and Douglas Diamond for their research on banks and financial crises.

The Economics Prize is the last award presented each Nobel season, following the Nobel Prizes in Medicine, Physics, Chemistry, Literature, and Peace. The Nobel in Economics was not part of the original prize structure in the will of Swedish scientist Alfred Nobel. This prize was added in 1968 in honor of the 300th anniversary of the establishment of the Swedish Central Bank – Sveriges Riksbank, which also funds the award.

Nevertheless, the nomination, selection, and awarding process for the Nobel Prize in Economics is similar to other fields. The Nobel laureate in Economics this year will receive 11 million Swedish kronor (approximately 986,000 USD).

To date, the Nobel Prize in Economics has been awarded 55 times. The youngest recipient was announced at 46 years old, and the oldest was 90.

List of Nobel Prize winners in Economics from 2012 to 2022

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