Nobel Prize in Economics Awarded for Groundbreaking Research on Institutions and Prosperity

The Royal Swedish Academy of Sciences awarded the 2024 Nobel Prize in Economic Sciences, also known as the Sveriges Riksbank Prize, to Daron Acemoglu, Simon Johnson, and James A. Robinson for their work on the impact of institutions on a country’s economic prosperity. The laureates’ research highlights how societal institutions are central to economic development, emphasizing that promoting democracy and inclusive institutions can drive growth and reduce income disparities....