prosperity

Other Sciences

Nobel Prize in Economics: How colonial history explains why strong institutions are essential to a nation’s prosperity

Credit: Pixabay/CC0 Public Domain This year’s Nobel Memorial Prize in Economics went to Daron Acemoglu and Simon Johnson of the Massachusetts Institute of Technology and James Robinson of the University of Chicago for their research into why there are such wide differences in prosperity between nations. In announcing the award, Jacob Svensson, chairman of the Economics Prize Committee, said: “Closing…