Nobel Prize in Economics Awarded to Acemoglu, Johnson, and Robinson
The 2024 Nobel Prize for Economics was awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson for their groundbreaking studies on the formation of institutions and their impact on prosperity. The Royal Swedish Academy of Sciences announced the winners in Stockholm, marking the end of the 2024 Nobel season.
About the Winners
Acemoglu, Johnson, and Robinson are renowned economists and political scientists known for their work on the connection between political institutions, economic development, and long-term prosperity. The prize, worth 11 million Swedish kronor, recognizes their significant contributions to the field.
“The laureates have demonstrated the importance of societal institutions for a country’s prosperity,” said Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences.
History of the Nobel Prize in Economics
Established in 1968, the Nobel Prize in Economics was created to honor exceptional contributions in the field. Previous laureates include Friedman, Hayek, Bernanke, and Goldin. The prize remains controversial, with critics citing ideological biases and negative societal impacts from some theories.
Despite the controversy, the Nobel Prize in Economics continues to be a prestigious honor, recognizing the innovative work of economists worldwide.