Why in News The Nobel prize in economics was awarded to Turkish-American Daron Acemoglu and British-Americans Simon Johnson and James Ro...
Why in News
The Nobel prize in economics was awarded to Turkish-American Daron Acemoglu and British-Americans Simon Johnson and James Robinson for research into wealth inequality between nations.
The laureates studied how political and economic systems established by European colonizers affect prosperity and income differences across countries.
Their work highlights the importance of "societal institutions" in determining why some countries thrive while others struggle economically.
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