Daron Acemoglu, Simon Johnson And James Robinson they won the Nobel Prize for Economics 2024 «for studies on how the institutions are formed and influence the prosperity»: this was announced by theRoyal Swedish Academy of Sciences. The prestigious award, formally known as Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobelis the last prize awarded this year and is worth 11 million Swedish crowns (1.1 million dollars). Daron Acemoglu is a Turkish-American national, Simon Johnson is British, while James Robinson is British-American.
«Reduce the huge income differences among countries is one of the greatest challenges of our time. The winners demonstrated the importance of social institutions to achieve this goal,” he said Jakob Svenssonpresident of Committee for the Prize in Economic Sciences. The economics prize is not one of the original prizes for science, literature and peace created by the will of the inventor of dynamite and businessman Alfred Nobel and first awarded in 1901, but a later addition established and financed by Swedish central bank in 1968. Last year, the economic historian of Harvard Claudia Goldin won the award for his work highlighting the causes of wage inequality and work between men and women.
Studies conducted by Daron Acemoglu, Simon Johnson and James Robinson, awarded the 2024 Nobel Prize for Economics, have demonstrated how institutions are fundamental in determining the economic prosperity of a country. According to their research, strong and inclusive institutions promote economic development, allowing citizens to actively participate in the productive and political system. Conversely, weak or exclusive institutions, often dominated by narrow elites, limit growth, creating inequality and hindering innovation. Their work has profoundly influenced understanding of how institutional policies can shape the economic future of nations.