The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974
Gunnar Myrdal, Friedrich August von Hayek
Born: 6 December 1898, Skattungbyn, Sweden
Died: 17 May 1987, Stockholm, Sweden
Prize motivation: "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"
Field: institutional economics, macroeconomics
Contribution: Research on the interrelations between economic, social and political processes.