Nobel Prize in Economics goes to 3 US-based researchers of prosperity

US-based academics Daron Acemoglu, Simon Johnson, and James Robinson were awarded the 2024 Nobel Economics Prize for their research on how institutions shape prosperity. The prize, worth $1.1 million, recognizes their work on the importance of societal institutions in reducing income inequality between countries. The laureates, from MIT and the University of Chicago, have shown how societies with strong rule of law and institutions promote growth and positive change. The economics prize, established in 1968, has a history of influential winners, with US academics often dominating. The 2024 Nobel laureates join a prestigious list of past recipients who have made significant contributions to the field of economics.