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Daron Acemoglu, Simon Johnson and James Robinson were awarded the Nobel Prize in Economics for their research on the institutional roots of national wealth and poverty.

Daron Acemoglu, Simon Johnson and James Robinson were awarded the Nobel Prize in Economics for their research on the institutional roots of national wealth and poverty. Christine Olsson/AFP via Getty Images hide caption

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Christine Olsson/AFP via Getty Images

Business

Nobel Prize goes to 3 economists who study the wealth and poverty of nations

The award is shared by Daron Acemoglu and Simon Johnson of MIT and James Robinson of the University of Chicago for their research on the institutional roots of national wealth and poverty. They will split the prize money of 11 million Swedish krona or about $1.058 million.

Nobel Prize in Economics goes to 3 American economists who study global inequality

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It's GDP... the remix!
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The Indicator from Planet Money

It's GDP... the remix!

Ah, GDP, the titan of all economic indicators. But are we breaking it down correctly? Today, we're remixing GDP to evaluate the true health of an economy.

It's GDP... the remix!

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Why No One Feels Rich

Social psychologist Keith Payne says we have a bias toward comparing ourselves to people who have more than us, rather than those who have less. Marcus Butt/Getty Images/Ikon Images hide caption

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Marcus Butt/Getty Images/Ikon Images

Hidden Brain

Why No One Feels Rich

If you've ever flown in economy class on a plane, you probably had to walk through the first class cabin to get to your seat. Maybe you noticed the extra leg room. The freshly-poured champagne. Maybe you were annoyed, or envious. Social psychologist Keith Payne says we tend to compare ourselves with those who have more than us, but rarely with those who have less. This week, we explore the psychology of income inequality, and how perceptions of our own wealth shape our lives.

Why No One Feels Rich

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