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MIT's Acemoglu, Johnson, and UChicago's Robinson Win 2024 Nobel Prize in Economics

Oct 14, 2024, 12:32 PM

Daron Acemoglu, Simon Johnson, and James A. Robinson have been awarded the 2024 Nobel Prize in Economics for their pioneering research into the causes of global inequality and the role of institutions in economic prosperity. The trio's work has significantly advanced the understanding of how political and economic institutions shape the success or failure of nations. Acemoglu and Johnson are professors at the Massachusetts Institute of Technology (MIT), while Robinson is a professor at the University of Chicago. Their research highlights the long-lasting impacts of colonial legacies and the importance of inclusive institutions in safeguarding political and economic rights. This recognition underscores the critical role of institutions in fostering economic growth and limiting the power of elites to expropriate citizens' rights. Daron Acemoglu is the third Turkish citizen to receive a Nobel Prize, and Simon Johnson is a former IMF chief economist. James Robinson was born in 1960.