Nobel Economics Prize 2024: Acemoglu, Johnson, and Robinson Recognized

Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the 2024 Nobel economics prize for their research on the formation and impact of institutions on prosperity. The award highlights the importance of societal institutions in addressing global income disparities and carries a monetary prize of 11 million Swedish crowns.

Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the prestigious 2024 Nobel economics prize. The Royal Swedish Academy of Sciences recognized their pioneering studies on how institutions are formed and their effects on prosperity.

The Nobel economics prize, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, awarded them 11 million Swedish crowns. Jakob Svensson, Chair of the Prize Committee, emphasized the laureates' demonstration of the importance of societal institutions in reducing international income disparities.

Though not part of the original prizes established by Alfred Nobel, this category acknowledges significant contributions to economic sciences since 1968. Past notable recipients include Milton Friedman, John Nash, and Ben Bernanke, underlining the dominance of U.S. academics in this field.

(With inputs from agencies.)