Trio of economists win Nobel Prize for work on wealth of nations

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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