How was Simon Kuznets awarded the Noble Prize in Economics?

Name: Simon Kuznets.
Country: United States.
Date of Birth: 30 April 1901.
Died: 8 July 1985.
Education: Columbia University, Kharkiv Institute of Commerce.
Subjects Of Study: Business cycle economics data econometrics time series.
Known as: the Kuznets curve.
Noble Prize Year: Nobel Prize for Peace in 1971, for his empirically founded interpretation of economic growth which has led to new and deepened insight into the economic and social structure and process of development.