Daron Acemoglu, Simon Johnson, And James Robinson Win 2024 Nobel Prize In Economics

Daron Acemoglu, Simon Johnson, and James Robinson have won the 2024 Nobel Prize in economics. The trio of economists won the award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, “for studies of how institutions are formed and affect prosperity.”

Three economists will share the prize, which carries a cash award of $1 million. The Nobel Committee hailed the Nobel laureates for explaining why "societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better." Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences, said "reducing the vast differences in income between countries is one of our time’s greatest challenges. The laureates have demonstrated the importance of societal institutions for achieving this."

BREAKING NEWS
The Royal Swedish Academy of Sciences has decided to award the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoglu, Simon Johnson and James A. Robinson “for studies of how institutions are formed and affect prosperity.”… pic.twitter.com/tuwIIgk393

— The Nobel Prize (@NobelPrize) October 14, 2024

Daron Acemoglu and Simon Johnson work at the Massachusetts Institute of Technology. Meanwhile, James Robinson conducts his research at the University of Chicago. In 2023, the prize went to Claudia Goldin for her research into women in the labor market.