Armenian Daron Acemoglu received the Nobel Prize in Economics

14.10.2024 14:07 | Category Science and culture

The 2024 Nobel Prize in Economics has been awarded to Daron Acemoglu, Simon Johnson and James Robinson for their study of the formation of public institutions and their impact on the welfare of different countries. The names of the laureates were presented at a ceremony in Stockholm.

The laureates have shown that one of the reasons for the difference in the level of well-being of the countries is the social institutions created during colonization. Institutions often appeared in poor countries that were colonized and over time led to general prosperity for the population. This is an important reason why former colonies that were once rich are now poor, and vice versa.

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