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Three scientists from America and Britain have been awarded the Nobel Prize for Economics. The winners include Turkish-American Daren Acemoglu, British-American Simon Johnson and Briton James A. Robinson.
He has received this honor for his research on the formation of different political institutions and its impact on the progress of the society. All three economists have told how poor countries have not been able to develop like rich countries despite years of progress.
The winners have explained the impact of political institutions on society in 3 ways…
First- How are resources distributed? Who has the power to take decisions in the society? On this basis there is conflict between the rich class and the common people.
Second- People get organized and sometimes threaten the ruling class. By doing this he gets the government to agree to his point. Therefore it can be said that power in society is more than just the right to take decisions.
third- Many times, it is the compulsion of the rich ruling class to hand over the right to take decisions to the public.
Female economist got Nobel for 2023 The Nobel for 2023 was awarded to America's Claudia Goldin. She was given this honor for better understanding the work of women and their contribution in the market.
The Nobel Committee considered Goldin's research in the labor market excellent. In his research, information was given about the discrimination against women in the labor market and their earnings.
Indian economist Amartya Sen received Nobel in 1998 Amartya Sen is the only Indian who was awarded this honor in 1998. He was awarded the Nobel Prize in Economic Sciences for his contributions to welfare economics and social choice theory.
In 2022, three banking sector experts, economists Ben Bernacke, Douglas Diamond and Philip Divig, received the Nobel Prize. All three did research on improving the banking sector during the economic recession and suggested better ways to save humanity.
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