University of Chicago professor, two M.I.T. economists win the Nobel Prize in Economics

The Nobel prize in economics has been awarded to James Robinson of the University of Chicago and two economists from MIT – Daron Acemoglu and Simon Johnson. They’re honored for “demonstrating the importance of societal institutions for a country’s prosperity.” They found that societies with poor rule of law and exploitative institutions do NOT generate sustainable growth. Professor Robinson spoke with WBEZ’s Morning Edition host, Mary Dixon.