Daron Acemoglu, Simon Johnson, and James Robinson Awarded 2024 Nobel Prize
Research associates Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the 2024 Nobel Memorial Prize in Economic Sciences "for studies of how institutions are formed and affect prosperity." The Royal Swedish Academy of Sciences explained that the three scholars "contributed innovative research about what affects countries' economic prosperity." Their work highlights the critical role of political and economic institutions in affecting the evolution of living standards. It not only offers important clues for explaining disparities in per capita income across nations, but also provides guidance on the design of policies to promote economic development.
Acemoglu is an Institute Professor at MIT. He is affiliated with four NBER programs: Development Economics (DEV), Economic Fluctuations and Growth, Labor Studies, and Political Economy (POL). Johnson, the Ronald A. Kurtz (1954) Professor of Entrepreneurship and Professor of Global Economics and Management at the MIT Sloan School, is affiliated with the Corporate Finance, DEV, International Finance and Macroeconomics, and POL programs. Robinson, the Reverend Dr. Richard L. Pearson Professor, University Professor, and Professor of Political Science at the University of Chicago, is an affiliate of the DEV, Development of the American Economy, and POL programs.
In announcing the prize, the Academy released a high-level summary of the three researchers' contributions, along with a more detailed account of their work.