Why Gunnar Myrdal received the 1974 Economics Nobel

Why it was awarded

Gunnar Myrdal received the 1974 Nobel Prize in Economics for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena. The Nobel committee highlighted this contribution for its lasting importance to the field. This achievement represents one of the major advances recognized in economics at the time.