Nobel Prize in Economics awarded to global inequality researchers

Three US-based academics won the Nobel Prize in Economic Sciences on Monday for their research into inequality between nations.

Daron Acemoglu and Simon Johnson, from the Massachusetts Institute for Technology, and James Robinson from the University of Chicago shared the award, the last of this year’s prizes.

“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,” said the chair of the awarding committee.