STOCKHOLM - The Nobel Prize in economics was awarded to three Americans Monday for their research into why some countries succeed and others fail. Two of the three economists are professors at the Massachusetts Institute of Technology in Cambridge.

An economist who studied at The University of Manchester has been awarded the prestigious 2024 Nobel Prize in Economics for his groundbreaking research into understanding wealth disparities between different nations.

Daron Acemoglu and Simon Johnson, of MIT, and James A. Robinson, of the University of Chicago, won the prize Monday for research into differences in prosperity between nations.