US-based Acemoglu, Johnson and Robinson win the 2024 Nobel Economics Prize

Daron Acemoglu, Simon Johnson and James Robinson have won the 2024 Nobel Prize in economics “for studies of how institutions are formed and affect prosperity”, the Royal Swedish Academy of Sciences says. The award, formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was awarded on Monday in Stockholm. It is the final prize to be given out this year and is worth 11 million Swedish kronor ($1.1m). “Reducing the vast differences in income between countries is one of our time’s greatest challenges,” Jakob Svensson, chairman of the Committee for the Prize in Economic Sciences, said in a statement. “The laureates have demonstrated the importance of societal institutions for achieving this,” Svensson added. All three winners work in the United States. Acemoglu and Johnson work at the Massachusetts Institute of Technology while Robinson conducts his research at the University of Chicago. Al Jazeera’s Paul Rhys reports from Stockholm. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on Twitter https://twitter.com/AJEnglish Find us on Facebook https://www.facebook.com/aljazeera Check our website: https://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.io/AJEMobile #NobelEconomicsPrize #DaronAcemoglu #SimonJohnson #JamesRobinson #UnitedStates #AlJazeeraEnglish