The Nobel Memorial Prize in Economics was awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson for their research on national prosperity differences. The Nobel committee highlighted the significance of societal institutions in fostering economic growth, noting that poor governance hampers development. Acemoglu and Johnson are affiliated with the Massachusetts Institute of Technology, while Robinson works at the University of Chicago. Established in 1968, this prize is presented annually on December 10, coinciding with Nobel's death anniversary.
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