Armenian-born economist Daron Acemoglu wins Nobel Prize in economics

YEREVAN, October 14. /ARKA/. The 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to American scholars Daron Acemoglu, Simon Johnson, and James Robinson "for their research on how institutions are formed and how they affect welfare." This was reported by Vedomosti, citing the Nobel Committee's website. 

The researchers concluded that the differences in prosperity among states affected by European colonization stem from social institutions that were either changed or artificially created in the colonies. Social institutions, or as the authors describe them – inclusive, were introduced in poor countries, which over time led to the general prosperity of the population. The researchers argue that this is a significant reason why former colonies that were once prosperous are now impoverished, and vice versa.

According to gazeta.ru, the names of the laureates were announced by the Nobel Committee at the Karolinska Institute of Medicine during a ceremony held in Stockholm. -0-