2024-10-14 10:42:00
This year’s Nobel Prize in Economic Sciences goes to the US economists Daron Acemoglu, Simon Johnson and James A. Robinson. They are recognized for their research on the role of institutions in the prosperity of nations. This was announced by the Royal Swedish Academy of Sciences in Stockholm. Acemoglu had previously been named by several economists as a favorite for this year’s prize.
IHS director Holger Bonin also said in an initial statement to the APA that he had long seen Acemoglu as worthy of a Nobel Prize – but for his research in the field of labor market. Acemoglu’s research has a “very broad profile”; he also works on the effects of artificial intelligence on the job market. Acemoglu combines extremely applied research with a “very, very clean theory” on growth and institutions.
The argument of the three researchers working in the USA, according to which democratic structures ultimately lead to more growth and prosperity, is particularly important at a time when some believe that countries like China could also be successful with a model of an obviously non-democratic and controlled market “an important note”. The work of those honored today shows that democratic structures will prevail in the end – “that is also my belief,” said Bonin. Your work provides the arguments and evidence why this is the case at the highest level, empirically clean and with historical data. The “framing” of the price fits well into today’s times.
All three award-winning researchers are active in the USA. Acemoglu, 57, and Johnson, 61, teach at the Massachusetts Institute of Technology (MIT), and Robinson, 64, is a professor at the University of Chicago. It is “one of the greatest challenges of our time” to reduce the large income differences between countries, said the panel. The prize winners demonstrated the role of social institutions in this process.
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