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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
21 illegal migrants from Bangladesh sent back from Assam
Guwahati (PTI): A total of 21 illegal migrants from Bangladesh, including children, were sent back to their country from Assam in the early hours of Sunday, Chief Minister Himanta Biswa Sarma said.
The push back took place from Sribhumi district of the state, he said.
"Alert eyes. Midnight action. At 12:30 AM sharp, 21 illegal migrants were sent back to their respective country, thanks to the ever-watchful @sribhumipolice," Sarma said in a post on X.
"Apprehended. Documented. Sent back home. Seems like while most people were dreaming, our police were wide awake doing the night shift for the nation. Sleep can wait when duty calls," he added, lauding the police action.
The two photographs shared by the chief minister on X showed at least seven children among the illegal migrants.
The Assam government has been cracking the whip on illegal migrants from Bangladesh, pushing back infiltrators through its borders with the neighbouring nation.
