Summary
- Daron Acemoglu, Simon Johnson, and James Robinson won the 2024 Nobel economics prize for their studies on how institutions are formed and affect prosperity.
- The laureates highlighted the importance of societal institutions in reducing income disparities between countries.
- The economics award was established by Sweden’s central bank in 1968 and has been dominated by U.S. academics.
- Past winners include influential thinkers such as Milton Friedman and Ben Bernanke.