Why are Some Countries Rich and others Poor?

Published on: October 15, 2024 - This year’s Nobel Prize winners in the field of economics have bagged the prestigious award for explaining why some countries are rich and the others are poor. The 2024 Nobel Prize in Economics has been awarded to three US-based economists, Daron Acemoglu a Turkish-American economist at the Massachusetts Institute of Technology, Simon Johnson a British economist at the Massachusetts Institute of Technology and James Robinson a British-American economist at the University of Chicago. They were given the award for research on prosperity gaps between countries-specifically how European colonization led to some nations being rich while others are poor. News9's Krishnakumar tells you more.