How was Gunnar Myrdal awarded the Noble Prize in Economics?

Name: Gunnar Myrdal
Real Name: Karl Gunnar Myrdal.
Country: Sweden.
Date of Birth: 6 December 1898.
Died: 17 May 1987.
Education: Stockholm University.
Notable Works: An American Dilemma: The Negro Problem and Modern Democracy, Asian Drama: An Inquiry into the Poverty of Nations, Monetary Equilibrium.
Known as: Major theorist of international relations and developmental economics.
Noble Prize Year: Nobel Prize for Peace in 1974, 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.