Nobel Prize in Economics Honors Research on Global Disparities

The Nobel Memorial Prize in Economic Sciences was awarded to economists Daron Acemoglu, Simon Johnson, and James Robinson for their significant research on explaining economic disparities between nations. Their work focuses on how institutions, particularly those shaped during European colonization, contribute to ongoing prosperity gaps, highlighting one of the most pressing issues of contemporary economics. The prize committee emphasized the importance of their findings in understanding how inherited institutional frameworks influence national economic outcomes.

Economists Daron Acemoglu and Simon Johnson from MIT, alongside James Robinson from the University of Chicago, have received the 2024 Nobel Memorial Prize in Economic Sciences. This award acknowledges their pioneering studies on global prosperity disparities and institutional impacts on economic outcomes. The Nobel committee praised their use of both theoretical and empirical approaches to address income inequalities across nations, focusing on the long-term influence of colonial institutions. This research underscores the critical role that societal frameworks play in shaping economic prosperity, revealing the complex legacy of colonialism on modern economies. Their findings provide a crucial understanding required for addressing today's global economic challenges.