On October 14, 2024, the Nobel Prize in Economic Sciences was announced, with three American economists—Daron Acemoglu, Simon Johnson, and James Robinson—being honored for their significant contributions to understanding how institutions shape economic prosperity.
Daron Acemoglu, a 57-year-old professor at MIT, Simon Johnson, who is 61 and also a professor at MIT, and James Robinson, aged 64 and a professor at the University of Chicago, have all dedicated their research to this critical area.
In a statement, the Nobel Prize Committee emphasized, “Narrowing the vast income gaps between nations is one of the greatest challenges of our time, and these laureates demonstrate the importance of social institutions in achieving this goal.” The committee further remarked that the recipients’ research provides deeper insights into the fundamental causes of national success or failure.
