Economics Nobel Prize

They won the prize for explaining the Innovation-driven economic growth, which is a theory that states that a nation's long-term growth depends on its ability to innovate

Mokyr won half the prize for identifying factors behind sustained growth via technological progress, while Aghion & Howitt shared the other half for their theory of growth through creative destruction

Conclusion of laureates Acemoglu, Johnson, Robinson - that prosperity depends on good (non-extractive) institutions, inclusion, rule of law - seems underwhelming, as these values are self-explanatory

Growth is driven by technological dynamism even more than by security for private capital

The basic structure of liberal economic reform that has been argued for in this country for decades now is one, essentially, of institutional change

Solow's students over his many years at MIT included Mario Draghi, who would go on to lead the European Central Bank and serve as Italy's prime minister

Born in pre-independence India, Alagh has left behind a rich legacy in the world of economic policymaking

In a world of crushing inequality and aggregate demand stagnation, the new laureates bring some cheer in showing us that incremental changes pursued steadfastly can add up to a lot

While many used to funds to further the causes for which they got the prize, a few were silent on how they used the money

The scapegoating of a Nobel Prize-winning native demonstrates the pitfalls of nationalism

"This year's Laureates have introduced a new approach to obtaining reliable answers about the best ways to fight global poverty," the academy said in statement

The 2019 Sveriges Riksbank Prize in Economic Sciences has been awarded to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty"