Nobel Prize in Economics 2024: D. Acemoglu, S. Johnson, J. A. Robinson for work on prosperity

The American-Turkish Daron Acemoglu, professor at MIT, the American-British Simon Johnson, also professor at MIT, and James A. Robinson, a professor at the University of Chicago in the United States, have been awarded the Bank of Sweden Prize in Economic Sciences in memory of Alfred Nobel 2024, "for studies on how institutions are formed and affect prosperity", announces the Royal Swedish Academy of Sciences on 14/10/2024.

"Reducing the vast diferences in income between countries is one of our time’s greatest challenges. The laureates have demonstrated the importance of societal institutions for achieving this," says Jakob Svensson, chairman of the prize committee in economics.

Their work helps us to understand why "societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better", says the Academy.

"Their empirical research demonstrates the fundamental importance of the type of political and economic institutions that were introduced during colonialisation. Their theoretical research has contributed to our understanding of…