The Nobel Prize in Economics in 2024 was awarded to three outstanding economists – Daron Acemoglu, Simon Johnson and James A. Robinson. Their research has opened up a new perspective on the relationship between social institutions and economic prosperity, which was a key factor in the selection of the laureates.
As the Nobel Committee noted, these scientific works explain in detail the reasons for the large economic differences between different countries of the world. The main emphasis is placed on the role of social institutions, in particular, those formed by colonial powers during historical development. The works of Acemoglu, Johnson and Robinson provide a better understanding of how these institutions have evolved and continue to influence the economic development of countries.
An important contribution of the laureates is the development of new theoretical tools that allow us to analyse how changes in institutions affect the welfare of the population. Their research emphasises the importance of institutional resilience, their ability to ensure economic development and adaptation to external and internal challenges.
The Nobel Prize in Economic Sciences was established in 1968 in honour of the 300th anniversary of the Swedish State Bank and has been awarded annually since then for outstanding achievements in economic science. The first prizes were awarded in 1969, and this year, in addition to economists, the Nobel Committee has recognised winners in such fields as physiology or medicine, physics, chemistry, literature and peace.
The official awarding ceremony will take place on 10 December in Stockholm, the day of death of the prize’s founder, Alfred Nobel.
