The prizewinners were announced at a ceremony in Stockholm. EPA/ANDERS WIKLUND SWEDEN OUT 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 […]

Economists Joel Mokyr, Philippe Aghion, and Peter Howitt. Ill. Niklas Elmehed © Nobel Prize Outreach Three economists working in the area of “innovation-driven economic growth” have won this year’s Nobel Memorial Prize in Economic Sciences. Half of the 11 million Swedish kronor (about A$1.8 million) prize was awarded to Joel Mokyr, a Dutch-born economic historian […]

Chris Putnam/Future Publishing via Getty Images Governments of all stripes provide support to small businesses in the form of tax concessions, lighter-touch regulation or government grants. They’re called the “engine room” of the economy. But is small really best? In recent research, my co-authors and I explored this question by looking at the contributions that […]