Royal Swedish Academy of Sciences announces that Asimoglu, Johnson, Robinson have been awarded 2024 Nobel Memorial Prize in Economic Sciences
Date
10/15/2024 5:35:23 AM
(MENAFN) On Monday, the Royal Swedish Academy of Sciences announced that Daron Asimoglu, Simon Johnson, and James A. Robinson have been awarded the 2024 Nobel Memorial Prize in Economic Sciences. Their recognition comes for their extensive research on how institutions are developed and the significant impact these institutions have on economic prosperity.
This prestigious award, officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, was established by the Central Bank of Sweden as a tribute to Nobel. Alfred Nobel was a nineteenth-century Swedish inventor and businessman best known for his invention of dynamite and the establishment of the five original Nobel Prizes. The inaugural winners of the economics prize were Ragnar Frisch and Jan Tinbergen in 1969.
In 2023, the prize was awarded to Harvard professor Claudia Goldin, who conducted pivotal research explaining the disparities in employment rates and earnings between men and women globally. Goldin became only the third woman in the history of the economics prize, which has seen a total of 93 recipients since its inception.
While some proponents of the Nobel tradition argue that the economics prize is not a true Nobel Prize, it is customarily presented alongside the other Nobel awards on December 10, the anniversary of Alfred Nobel's death in 1896. The announcements for the Nobel Prizes in medicine, physics, chemistry, literature, and peace took place last week, marking a significant period in the annual celebration of achievements in various fields.
The awarding of the Nobel Prize in Economics to Asimoglu, Johnson, and Robinson highlights the ongoing importance of institutional frameworks in understanding and enhancing economic outcomes, emphasizing how governance and social structures play critical roles in shaping prosperity across nations.
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