Nobel economics prize is awarded for research into how poor institutions affect countries' success

The Nobel committee recognized Acemoglu, Johnson, and Robinson for their groundbreaking research on the relationship between societal institutions and a country’s economic prosperity, noting that open societies tend to succeed.

Jakob Svensson, chair of the Committee for the Prize in Economic Sciences, emphasized that the economists' work offers profound insights into the reasons behind economic disparities between nations.

Read at www.ocregister.com