Mon Oct 14 11:00:12 UTC 2024: ## Nobel Prize in Economic Sciences Awarded to Trio for Research on Inequality
**Stockholm:** The Royal Swedish Academy of Sciences has announced the 2024 Nobel Prize in Economic Sciences, awarding the prestigious prize to three researchers for their groundbreaking work on global wealth inequality. **Darren Acemoglu**, **Simon Johnson**, and **James A. Robinson** will share the prize for their contributions to understanding the underlying causes and implications of disparities in wealth between nations.
Acemoglu and Johnson, both affiliated with the Massachusetts Institute of Technology (MIT) in Cambridge, USA, have been recognized for their collaborative efforts in examining the impact of historical factors and institutional structures on economic development and inequality. Robinson, a distinguished scholar at the University of Chicago, has been lauded for his research focusing on the interplay between political institutions, social structures, and economic outcomes, particularly in the context of developing countries.
The announcement concludes the annual Nobel Prize ceremony, which began with the prestigious award in Physiology or Medicine last week. Subsequent days saw announcements of the winners in Physics, Chemistry, Literature, and Peace.
The Nobel Prize, named after Swedish scientist, engineer, and industrialist Alfred Nobel, acknowledges exceptional contributions in various fields. Established after Nobel’s death in 1896, the annual awards are administered by the Nobel Foundation. The 2024 laureates will receive a combined sum of 11 million Swedish kronor and will formally receive their awards during a ceremony in Stockholm on December 10th.
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