Who Received the Nobel Prize in 2024
World
The Nobel Committee announced the award of the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to professors Daron Acemoglu and Simon Johnson from the Massachusetts Institute of Technology, as well as James Robinson from the University of Chicago "for their research on how institutions are formed and how they impact prosperity."
"They have helped us understand the differences in wealth levels between countries. This year's laureates in economic sciences—Daron Acemoglu, Simon Johnson, and James Robinson—demonstrated the importance of public institutions for a country's prosperity. Societies with low levels of rule of law and institutions that exploit the population do not foster economic growth and positive change. The research of the laureates helps us understand why," the press release states.
The Nobel laureates in economics showed that one of the reasons for the differences in wealth among countries is the social institutions established during the period of European colonization. In particular, the economists classified institutions into inclusive and extractive.
The Nobel laureates in economics showed that one of the reasons for the differences in wealth among countries is the social institutions established during the period of European colonization. In particular, the economists classified institutions into inclusive and extractive.
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