Nobel economics prize is awarded for research into why countries succeed or fail
Stockholm (AP): The Nobel memorial prize in economics was awarded Monday to Daron Acemoglu, Simon Johnson and James A. Robinson for research into reasons why some countries succeed and others fail.
The Nobel memorial prize in economics was awarded Monday to Daron Acemoglu, Simon Johnson and James A. Robinson for research into differences in prosperity between nations.
The three economists “have demonstrated the importance of societal institutions for a country's prosperity,” the Nobel committee of the Royal Swedish Academy of Sciences said at the announcement in Stockholm.
“Societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better. The laureates' research helps us understand why,” it added.
Acemoglu and Johnson work at the Massachusetts Institute of Technology and Robinson conducts his research at the University of Chicago.
“Reducing the vast differences in income between countries is one of our time's greatest challenges. The laureates have demonstrated the importance of societal institutions for achieving this,” Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences, said.
He said their research has provided "a much deeper understanding of the root causes of why countries fail or succeed.”
Reached by the academy in Athens, Greece, where he is due to speak at a conference, Acemoglu said he was surprised and shocked by the award.
“You never expect something like this," he said.
The economics prize is formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. The central bank established it in 1968 as a memorial to Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the five Nobel Prizes.
Though Nobel purists stress that the economics prize is technically not a Nobel Prize, it is always presented together with the others on December 10, the anniversary of Nobel's death in 1896.
Nobel honors were announced last week in medicine, physics, chemistry, literature and peace.
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Bypolls: K'taka Cong Minority Abdul Jabbar chief resigns amid allegations of 'internal conspiracy'
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Bengaluru (PTI): Karnataka Congress Minority Department President K Abdul Jabbar announced his resignation from the post on Saturday, a day after a group of Muslim leaders accused members of their own party of "conspiring" to defeat the official candidate in Davanagere South.
Jabbar, an MLC, was an aspirant for the Congress ticket from the Davanagere South Assembly segment.
"It has been an honor for me to serve as Chairman of the KPCC Minority department and have worked to the best of my ability during assembly elections 2023 and followed by Parliament polls and many such occasions whenever the party needed the minority department and showed results. I have toured the entire state of Karnataka and worked to align the minorities with Congress values and principles. Most of it is available in the public domain," Jabbar has said in a letter to the party.
"Minority voters and minority office bearers are the backbone of our great Congress party and certainly deserve better," he said.
Deputy Chief Minister D K Shivakumar, who is also the Karnataka Pradesh Congress Committee President, confirmed Jabbar's resignation.
"I won't speak about this now, I have got some reports. The Minority President has submitted his resignation. I will verify things, I will seek a report from local leaders after that I will speak," he told reporters in response to a question on internal conspiracy.
A rift within the Karnataka Congress surfaced on Friday, a day after the bypolls to two Assembly constituencies in the state, as a group of Muslim leaders alleged a "conspiracy" by some of their own senior party leaders to defeat the official candidate in Davanagere South.
However, they asserted that despite efforts by some within to project that Congress "betrayed" Muslims, the party candidate Samarth Mallikarjun will win in Davanagere South, the constituency where the community has a significant presence.
They said the party finally named Samarth Mallikarjun as the candidate after considering all factors and taking all Muslim leaders into confidence. Despite this, a massive campaign, including from some within the party, projected the Congress as having "betrayed" the minorities by denying them tickets.
Chief Whip in the Legislative Council Saleem Ahmed, MLAs Rizwan Arshad, Yasir Ahmed Khan Pathan, MLC Bilkis Bano, and other Congress leaders addressed a joint press conference on Friday, claiming an "internal conspiracy".
According to party sources, these Muslim leaders have also complained to AICC and state party leadership, alleging "internal sabotage" in Davanagere South.
Though the leaders did not name anyone, several party sources said their attack was directed at State Housing Minister B Z Zameer Ahmed Khan and Jabbar among others.
Khan, who had openly demanded the Davanagere South ticket for a Muslim candidate, initially stayed away from campaigning in the constituency, citing his Kerala poll responsibilities.
However, he addressed a press meet with Samarth's father and Minister SS Mallikarjun at the request of Chief Minister Siddaramaiah.
Jabbar too had not actively participated in the campaigning, despite hailing from Davanagere.
Bypolls for Davanagere South were held along with Bagalkot on Thursday. The election was necessitated following the death of sitting MLAs Shamanur Shivashankarappa and H Y Meti respectively. Samarth is the grandson of Shivashankarappa.
Muslim disgruntlement appears to be a concern for the Congress in Davanagere South. With 14 of the 25 candidates in the fray belonging to the community, there are apprehensions within the party about a split in votes, which could benefit the BJP.
Given its significant presence in the constituency, the Muslim community strongly demanded the Congress ticket for Davanagere South. Some party factions had opposed giving the ticket to the Shamanur family.
Although the Congress was successful in persuading rebel candidate Sadiq Pailwan to withdraw from the contest, he remained in the fray as the move came after the deadline for withdrawal of nominations.
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