The prize was given to Daron Acemoglu, Simon Johnson and James Robinson for work that advanced the understanding of differences in prosperity between countries.

This year’s winners of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, usually called the Nobel prize in economics, argue that it depends on the quality of government. In 2001 the three men—Daron Acemoglu and Simon Johnson,

A trio of economists just won a Nobel prize for their insights into how democratic and other inclusive institutions are critical for a nation’s prosperity.