Daron Acemoglu, Simon Johnson, and James Robinson received the 2024 Nobel Prize in Economics for their research on institutional impacts on prosperity. The Royal Swedish Academy of Sciences announced this on Monday.
The prize, formally named the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, concludes this year’s Nobel awards. It is valued at 11 million Swedish crowns (about $1.1 million).
The committee chair, Jakob Svensson, emphasized the significance of their work. “Tackling global income disparities is one of today’s greatest challenges. The laureates have highlighted the vital role of societal institutions in this effort,” he stated.
Previous winners include notable economists like Milton Friedman, John Nash — depicted by Russell Crowe in the film “A Beautiful Mind” — and former US Federal Reserve Chairman Ben Bernanke. Last year, Claudia Goldin won for her analysis of gender wage gaps and labour market inequalities.
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US academics have traditionally dominated the economics prize, which is consistent with other scientific Nobel categories. The 2024 announcements started with US scientists Victor Ambros and Gary Ruvkun winning for medicine and ended with Japan’s Nihon Hidankyo, a nuclear disarmament group, receiving the peace prize.
