Why do some nations prosper while others are poor? To boil down this year’s economics Nobel to a single sentence: “Institutions matter.” The Nobel Prize in Economic Sciences was awarded to ...

A trio of economists just won a Nobel prize for their insights into how democratic and other inclusive institutions are critical for a nation’s prosperity.

When Acemoglu and Robinson wrote Why Nations Fail almost a decade ago, they used the United States as an institutional success story. They acknowledge the nation has a dark side: slavery, genocide of ...

A trio of economists just won a Nobel prize for their insights into how democratic and other inclusive institutions are critical for a nation’s prosperity.

A trio of economists just won a Nobel prize for their insights into how democratic and other inclusive institutions are critical for a nation’s prosperity.