Today, the Royal Swedish Academy of Sciences awarded the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoglu, Simon Johnson, and James Robinson for their research on “How institutions are formed and affect prosperity.”
According to the press release published on the official website of the Nobel Committee, the laureates have highlighted the importance and impact of social institutions on the prosperity of countries. Their work helps to understand the differences in well-being among nations.
“Reducing the enormous income disparities between countries is one of the greatest challenges of our time. The laureates have demonstrated the importance of social institutions in achieving this,” said Jakob Svensson, Chairman of the Prize Committee for Economic Sciences.