How this year’s Nobel winners changed the thinking on economic growth

By Antonio Navas, Senior Lecturer in Economics, University of Sheffield

What makes some countries rich and others poor? Is there any action a country can take to improve living standards for its citizens? Economists have wondered about this for centuries. If the answer to the second question is yes, then the impact on people’s lives could be staggering.

This year’s Sveriges Riksbank Prize in Economic Sciences (commonly known as the Nobel prize for economics) has gone to three researchers who have provided answers to these questions: Philippe Aghion, Peter Howitt…

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