Daron Acemoglu wins Nobel Prize in Economics

 
The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024 to Daron Acemoglu, Simon Johnson and James Robinson “for studies of how institutions are formed and affect prosperity,”  the Nobel Prize website reports.

“This year’s laureates in the economic sciences – Daron Acemoglu, Simon Johnson and James Robinson – have demonstrated the importance of societal institutions for a country’s prosperity. Societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better. The laureates’ research helps us understand why,” the press release reads.

Born to Armenian parents in Istanbul, Daron Acemoglu is Professor at Massachusetts Institute of Technology, Cambridge. He was awarded the John Bates Clark Medal in 2005. Of the 36 recipients, only seven were not from the US, and two were not from the US, Canada, or the European Union. One of those two was Acemoglu.