Nobel Economics Prize 2024 Explores Colonial Legacy and Global Inequality

Three U.S.-based academics have received the 2024 Nobel economics prize for exploring the impact of colonialism on global inequality. Simon Johnson, James Robinson, and Daron Acemoglu's research investigates how historical colonial practices affect contemporary institutions and prosperity, shedding light on current socioeconomic challenges.

Three U.S.-based scholars have been awarded the 2024 Nobel Prize in Economics for their work exploring how colonial legacies affect current global inequality, as announced by the Royal Swedish Academy of Sciences on Monday.

Their research, spearheaded by Simon Johnson, James Robinson, and Daron Acemoglu, delves into the historical roots that have contributed to weak institutional frameworks in many low-income countries, ultimately impacting their prosperity.

This understanding of post-colonial impacts arrives amidst a World Bank report highlighting increased debt in the world's poorest nations, underscoring the importance of addressing inequality challenges with informed policy and governance strategies.

(With inputs from agencies.)