Who was awarded the Nobel Prize in Economics in 1998?

Explanation

The Royal Swedish Academy of Sciences awarded Amartya Sen the Nobel Prize in Economics for the year 1998 for his significant contribution to welfare economics. According to the Academy’s citation, his contributions to welfare economics helped in understanding the economic mechanisms related to famine and poverty. Among the books written by Amartya Sen, “Collective Choice and Social Welfare”, “The Idea of Justice”, and “On Ethics and Economics” are the most discussed. The Nobel Prize in Economics for 2019 was given to Abhijit Banerjee, Esther Duflo, and Michael Kremer for their “experimental approach to alleviating global poverty”, whereas the Nobel Prize in Economics for 2022 was given to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig. ## Page 42 The Nobel Prize in Economics for 2023 was awarded to Claudia Goldin. The Nobel Prize in Economics for 2024 was awarded to three American economists—Daron Acemoglu, Simon Johnson, and James A. Robinson—for “studies of how institutions are formed and affect prosperity”. The Nobel Prize in Economics for 2025 has been jointly awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt.