The 2024 Nobel Prize in Economics has been awarded to three outstanding economists: Daron Ajemoglu, Simon Johnson and James Robinson. Daron Ajemoglu (born 1967 in Istanbul, Turkey) is a professor at the Massachusetts Institute of Technology. Simon Johnson (born 1963 in Sheffield, UK) is a professor at the Massachusetts Institute of Technology. James A. Robinson (born 1960) is a professor at the University of Chicago. The laureates received the prize for their works devoted to the study of the role of public institutions in shaping the well-being of countries. The award Committee stressed that the research of Ajemoglu, Johnson and Robinson demonstrated the importance of effective institutions for economic growth and progress. «Societies with poor rule of law and institutions that exploit the population do not generate growth or change for the better. The research of the laureates helps us understand why,» the Committee said in an official statement. Daron Ajemoglu and James Robinson are the authors of the bestselling book «Why some countries are rich and others are poor. The Origin of Power, Prosperity and Poverty» (2012), in which they detail their theory about the role of institutions in economic development. The prize amount, 11 million Swedish kronor, will be divided equally among the laureates.
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