Nobel Prize in Economics awarded for research on how colonization shapes wealth disparities
Summary: The 2024 Nobel Prize in Economics has been awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their research on how institutions shape prosperity. They found that democratic institutions are more likely in countries where European colonizers faced less resistance.
Their studies link the wealth gap between countries to the behavior of colonizers. In areas with dense indigenous populations, colonizers established exploitative institutions, while in sparsely populated regions, they created inclusive systems that promoted political rights and economic growth.
This year's winners have written accessible works for the public, including the best-seller "Why Nations Fail." Their recognition diversifies the Nobel laureates, as they come from different backgrounds despite working in the U.S.
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