Nobel Prize In Economic Sciences 2024: Daron Acemoglu, Simon Johnson and James A. Robinson have been awarded the Nobel Prize in Economics for their research on differences in prosperity between nations. The Nobel Prize in Economic Sciences has been awarded to Daron Acemoglu, Simon Johnson and James A. Robinson. All of them studied how institutions are formed and how they affect prosperity.
The Nobel Committee of the Royal Swedish Academy of Sciences said the three economists had 'demonstrated the importance of social institutions for a country's prosperity.' “Societies with poor rule of law and institutions that exploit the population do not lead to growth or better change,” the committee said. “Research from award winners helps us understand why.”
Announcement made in Stockholm
The Nobel prizes were announced on Monday in Stockholm. Acemoglu and Johnson work at the Massachusetts Institute of Technology, and Robinson conducts his research at the University of Chicago. The Economics Prize was formerly known as the Bank of Sweden Prize. This award for economic sciences is given in memory of Alfred Nobel.
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