3 share Nobel in Economics for explaining why some countries are rich and others poor ...Middle East

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3 share Nobel in Economics for explaining why some countries are rich and others poor
Stockholm: The Royal Swedish Academy of Sciences on Monday awarded the Nobel Prize in Economic Sciences to three US economists for providing new insights into why there are such vast differences in prosperity between nations, trying to help solve the puzzle why some countries are rich and others poor. Daron Acemoglu and Simon Johnson from Massachusetts Institute of Technology (MIT) and James A. Robinson from the University of Chicago in the US were awarded the coveted honour for studies of how institutions are formed and affect prosperity. Acemoglu, Johnson and Robinson have demonstrated the importance of societal institutions for a country’s prosperity. “Societies with a poor rule of law a

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