The Nobel Prize in Economics was awarded for the study of differences in the prosperity of countries

Scientists Daron Acemoglu, Simon Johnson and James Robinson have been awarded the Nobel Prize in Economics – “for the study of how institutions are formed and affect prosperity,” the Nobel Committee announced on October 14.

These three economists “demonstrated the importance of social institutions for the prosperity of a country,” the Nobel Committee of the Royal Swedish Academy of Sciences said.

Acemoglu and Johnson work at the Massachusetts Institute of Technology, and Robinson conducts his research at the University of Chicago.

Last year, Harvard University professor Claudia Goldin from New York won the Nobel Prize in Economics for her research on women’s labor market outcomes.

The laureates of the 2024 Nobel Prize in Medicine, Physics, Chemistry, Literature and Peace were announced earlier.

In each category, the monetary part of the Nobel Prize is 11 million Swedish kroner (now it is slightly more than 1 million US dollars).