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The Royal Swedish Academy of Sciences announced today that Daron Acemoglu, Simon Johnson, and James A. Robinson have been awarded the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. The prestigious prize recognizes their significant contributions to understanding how institutions are formed and their impact on national prosperity.
This year’s award marks the final Nobel Prize to be announced, concluding the 2024 Nobel Prize season. The economics prize, established in 1968 as a memorial award, acknowledges outstanding contributions to the field of economics.
Three Winners
- Daron Acemoglu: Born in 1967 in Istanbul, Turkey, Acemoglu earned his Ph.D. from the London School of Economics in 1992. He is currently a professor at the Massachusetts Institute of Technology (MIT) in Cambridge, USA.
- Simon Johnson: Johnson was born in 1963 in Sheffield, UK, and completed his Ph.D. at MIT in 1989. He is also a professor at MIT.
- James A. Robinson: Born in 1960, Robinson received his Ph.D. from Yale University in 1993 and is now a professor at the University of Chicago, Illinois, USA.
The award-winning research of Acemoglu, Johnson, and Robinson explores the relationship between institutions and prosperity across nations, shedding light on how the design and governance of institutions can influence economic outcomes.
The economics prize has a rich history, including recognition of influential figures such as Milton Friedman, who won in 1976 for his groundbreaking work in consumption analysis and monetary theory. Friedman was a strong advocate for free markets, and his ideas significantly influenced economic policy in the UK and the US. The Nobel committee continues to reflect on the impact of economics on society and the importance of institutions in shaping the global economic landscape.
