Mon Oct 14 10:39:54 UTC 2024: ## Nobel Prize in Economics Awarded to Three Economists for Groundbreaking Research on Institutions and Prosperity
**Stockholm, Sweden:** The Royal Swedish Academy of Sciences has announced the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, recognizing the groundbreaking work of three economists: Daron Acemoglu, Simon Johnson, and James A. Robinson. The trio were awarded the prestigious prize “for studies of how institutions are formed and affect prosperity.”
Their research delves into the fundamental question of why economic disparities exist between countries. Acemoglu, Johnson, and Robinson argue that **economic institutions play a more significant role in shaping economic outcomes than factors like geography or culture.** Their influential work highlights the importance of robust institutions in fostering economic growth and prosperity.
The three economists have collaborated extensively, and their most renowned paper analyzes the impact of economic institutions on economic growth and prosperity across nations. This work has been widely cited and has significantly influenced the field of economics.
The Nobel Prize in Economic Sciences, established in 1969, is considered one of the most prestigious awards globally. While typically awarded to a single economist, this year’s award marks the 10th occasion where the prize has been shared among three individuals.
This year’s Nobel Peace Prize was awarded to the Japanese non-governmental organization, **ICAN (International Campaign to Abolish Nuclear Weapons),** for their tireless efforts to raise awareness about the catastrophic consequences of nuclear weapons and their advocacy for a world free from such weapons.
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