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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Two held in UP's Bijnor for contact with Pakistan linked Dubai handler
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Bijnor (PTI): Two men were arrested in this Uttar Pradesh district on Friday for allegedly being in touch with a Pakistan-linked handler based in Dubai, police said.
Circle Officer, Najibabad, Anjani Kumar Chaturvedi said Uvaid Malik and Jalal Haider were arrested following inputs on their alleged links with Aqib, a resident of Meerut currently staying in Dubai.
According to police, Aqib had earlier come into the spotlight after a video surfaced on Instagram purportedly showing him displaying an AK-47 rifle and explosives.
During interrogation, the arrested men allegedly told police that Aqib used to incite youngsters against Hindus and encourage anti-national activities, the officer said, adding that detailed questioning of the accused is underway.
On April 6, Superintendent of Police (SP) Abhishek Jha said the video first surfaced in November last year. Aqib, a native of Sathla village in the Mawana area of Meerut, was allegedly seen in the video brandishing weapons.
Following the viral clip, a case was registered at the Nangal police station by sub-inspector Vinod Kumar. However, the then station house officer and investigating officer Satyendra Singh had recorded Aqib's statement and filed a final report, stating that the weapons seen in the video were toys, effectively giving him a clean chit.
Police said fresh developments have now revealed Aqib's suspicious links and the probe has been handed over to the Anti-Terrorist Squad (ATS).
The SP said action has been taken against the officials concerned, with the then SHO and investigating officer suspended and Circle Officer Nitesh Pratap Singh removed from his post.
