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Economists Daron Acemoglu, Simon Johnson, and James Robinson win Nobel Prize for research on wealth inequality

ft.com — October 14, 2024, 03:00 PM UTC

Summary: The 2024 Nobel Prize in Economics has been awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their research on wealth inequality among nations. Their work emphasizes the lasting effects of colonial institutions on economic outcomes.

The economists found that inclusive political and economic systems foster innovation and growth, while extractive institutions hinder progress. Their research established a clear link between colonial practices and current economic disparities.

Acemoglu, Johnson, and Robinson are professors at prestigious U.S. universities but were born outside the U.S. Acemoglu noted that their work examines how colonialism shaped different institutional paths for countries worldwide.

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