3 U.S.-based economists win economics Nobel Prize for work on "natural experiments"
CBSJUL 2021
Three US-Based Researchers Share Nobel Prize in Economics
Above: The Nobel Committee announces the winners of the 2024 Nobel Prize in Economic Science during a press conference at the Karolinska Institute in Stockholm, Sweden, on Oct.14, 2024. Image copyright: Atila Altuntas/Contributor/Anadolu via Getty Images
The Spin
Left narrative
Research on this topic is paramount to understanding why certain countries thrive economically while others are left impoverished. This phenomenon is most evident in Africa, where Western empires used the imperialist claim of "civilizing" populations as an excuse to steal resources and enslave people. The West is rich today thanks to the plundering of African land and the forced labor of African people.
Right narrative
Whether it be the Romans conquering Britain, the British conquering Scotland, or European imperialism in Africa, all of the relevant variables and dynamics need to be evaluated fairly. Likewise, if you look at the countries never colonized by imperial powers, they remained the most impoverished countries on Earth. A nuanced approach is needed.
Metaculus Prediction
There is a 50% chance that the number of people in the world living on $10 (in 2011 INT USD) or less per day will be at least 4.6B in 2025, according to the Metaculus prediction community.
