Roula Khalaf, Editor of the FT, highlights the 2024 Nobel Prize in Economics awarded to Daron Acemoglu, Simon Johnson, and James Robinson for their research on wealth disparities between nations, focusing on institutions and the rule of law’s impact on prosperity. The laureates, not American, were commended for showing that democracies promote growth in the long run, with Acemoglu emphasizing their work’s focus on the effects of colonialism on institutional trajectories. Acemoglu, born in Turkey and based at MIT, collaborated with Johnson and Robinson, with Johnson, originally from Sheffield, and Robinson, holding British and American citizenship, having academic backgrounds in the UK and US.
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Trump’s Tariffs Could Help Tesla, by Hurting Its Rivals More
President Trump's new tariffs on Chinese goods and threats of a trade war with Mexico and Canada have potential implications for Tesla, as the electric car maker is less vulnerable due to self-sufficient supply chains in the US and China. While Tesla's competitors may suffer more from the tariffs, the company remains at risk if relations with China deteriorate. The trade war and Trump's policies could impact Tesla's sales in China and Europe, although its...
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