Nobel Prize in Economics announced; Daron Acemoglu, Simon Johnson and James A. Robinson to be awarded

New Delhi| The Royal Swedish Academy of Sciences has announced the 2024 Nobel Prize for contributions to the economic sector. The Sveriges Riksbank Prize, awarded in memory of Alfred Nobel in the field of economic science, is awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson. This honor has been given to the winners for their study on how institutions are formed and how they affect prosperity.

Who is Daron Acemoglu?
Kamer Daron Acemoglu is a Turkish-American economist of Armenian descent. They have been teaching at the Massachusetts Institute of Technology since 1993. There he is currently the Elizabeth and James Killian Professor of Economics. He received the John Bates Clark Medal in 2005, and in 2019 he was named by MIT as a professor.

Who is Simon Johnson?
Simon H. Johnson is a British American economist. He was born on January 16, 1963. He is Ronald A. of Entrepreneurship at the MIT Sloan School of Management. Kurtz is a professor. Along with this, Johnson is a senior fellow at the Peterson Institute for International Economics.

Who is James A. Robinson?
James Alan Robinson, born in 1960, is a British economist and political scientist. He is currently the Reverend Dr. of Global Conflict Studies. Richard L. Pearson is Professor and University Professor at the Harris School of Public Policy at the University of Chicago.

Earlier last year, the Royal Swedish Academy of Sciences had selected Claudia Goldin for the Nobel Prize in Economics. She was given this honor for upgrading or developing our understanding of women’s labor market outcomes. Claudia Goldin served to provide the first comprehensive account of women’s earnings and labor market participation over the centuries. Her research revealed the causes of change and the main sources of remaining gender differences. Their research revealed that women are poorly represented in the global labor market and earn less than men when they work. Goldin traced the archives and collected over 200 years of data, proving to them how and why the gender gap in earnings and employment rates changed?

The Royal Swedish Academy of Sciences last year awarded the Nobel Prize in Economics to Ben S. Bernanke, Douglas W. Diamond and Philip H. Dybvig. He was honored for his research on banks and financial crises. The three award winners had significantly improved our understanding of the role of banks in the economy, especially during the financial crisis. An important finding in his research is why it is important to avoid the collapse of banks?