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YEREVAN, OCTOBER 14, ARMENPRESS. The 2024 Nobel Prize in Economic Sciences, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2024, was awarded jointly to Daron Acemoglu, Simon Johnson and James A. Robinson "for studies of how institutions are formed and affect prosperity,” the Royal Swedish Academy of Sciences has said.
The prize was awarded on Monday in Stockholm.
“Reducing the vast differences in income between countries is one of our time’s greatest challenges,” Jakob Svensson, chair of the Committee for the Prize in Economic Sciences, said in a statement.
“The laureates have demonstrated the importance of societal institutions for achieving this,” Svensson added.
Acemoglu and Johnson work at the Massachusetts Institute of Technology and Robinson conducts his research at the University of Chicago.
“I am delighted. It’s just a real shock and amazing news,” Al Jazeera quoted Acemoglu as saying via telephone after the announcement.
Acemoglu is a Turkish-American economist of Armenian descent who has taught at the Massachusetts Institute of Technology since 1993.