THE JHARKHAND STORY DESK
Stockholm, Oct 14: The 2024 Nobel Prize in Economics has been awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson by the Royal Swedish Academy of Sciences “for studies of how institutions are formed and affect prosperity.”
Their pioneering research examines the formation of institutions and their significant influence on economic prosperity.
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“This year’s laureates in the economic sciences – Daron Acemoglu, Simon Johnson and James Robinson – have demonstrated the importance of societal institutions for a country’s prosperity. Societies with a poor rule of law and institutions that exploit the population do not generate growth or change for the better. The laureates’ research helps us understand why,” the Nobel Prize press release stated.
The prize amounts to 11 million Swedish kronor (approximately $1.1 million), which will be equally distributed among the laureates.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded 56 times to 96 laureates between 1969 and 2024.
