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16 October 1979 THIS YEAR’s ECONOMICS PRIZE AWARDED TO DEVELOPING-COUNTRY RESEARCH has decided to award the 1979 Alfred Nobel Memorial Prize in Economic Sciences to be shared by Professor Theodore W. Schultz, University of Chicago, USA, and Professor Sir Arthur Lewis, Princeton University, USA, for their pioneering research into economic development research with particular consideration…

Mother Teresa was born Agnes Gonxha Bojaxhiu in Uskup, Ottoman Empire (now Skopje, North Macedonia), on August 26, 1910. Her family was of Albanian descent. At the age of twelve, she felt strongly the call of God. She knew she had to be a missionary to spread the love of Christ. At the age of…

Presentation Speech by Professor Erik Lundberg of the Translation from the Swedish text Your Majesties, Your Royal Highnesses, Ladies and Gentlemen, Economic development research covers a wide sector of economics. What it is concerned with ultimately is why some countries are rich and others poor, why some countries seem to be caught in a vicious…

The adverse economic events following the First World War turned me toward economics. In the Dakotas, where I was born (April 30, 1902), I learned during my youth how hard it was for farm families to stay solvent. Farm product prices fell abruptly by more than half. Banks went bankrupt and many farmers suffered foreclosures.…

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I was born in St. Lucia on January 23, 1915. My parents, who were both school teachers, had immigrated there from Antigua about a dozen years before. The islands were dissimilar in religion and culture, so our family had some slight characteristics of immigrant minorities. My progress through the public schools was accelerated. When I…