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He Nobel Prize in Economicswhich closes the 2024 edition, went yesterday to the Turkish-American Daron Acemoglu and the british-american Simon Johnson y James A. Robinson for his research on institutions and how they affect the prosperity of nations.
The researchers, all three based on USAwere awarded “for their studies on how institutions are formed and how they affect prosperity,” the jury noted in its statement.
“Reducing the enormous income differences between countries is one of the greatest challenges of our time. The winners showed the importance of institutions to achieve this,” he declared. Jakob Svenssonpresident of Prize Committee in Economic Sciences, cited in a statement.
By studying the different political and economic systems introduced by European colonizers in large parts of the world, the three scholars demonstrated a relationship between institutions and prosperity, the committee stressed.
“Although the poorest countries are getting richer, they are not closing the gap,” he declared at a press conference. Jan Teorell, committee member.
“Acemoglu, Johnson y Robinson showed that much of this income gap is due to differences in the economic and political institutions of the sociedad”, he added.
“A large part of this poverty is unfortunately the result of old institutional arrangements at the political and economic level. So there are very important obstacles to overcome,” declared the laureate. Simon Johnson, in an interview with Nobel Foundation.
Acemoglu, 57, is a professor at the prestigious Massachusetts Technological Institute (MIT), as well as Johnson, 61 years old. Robinson, 64, is a professor at the University of Chicago.
The jury took the example of Nogales, divided by the US-Mexico border, where residents on the US side of the city tend to live in better conditions.