Armenian-American economist Daron Acemoglu has been awarded the 2024 Nobel Prize in Economic Sciences, along with Simon Johnson and James A. Robinson, “for studies of how institutions are formed and affect prosperity.”
Born in Istanbul in 1967, Acemoglu is a professor at the Massachusetts Institute of Technology. His groundbreaking research with his co-laureates has shed light on why some countries prosper while others struggle economically.
The trio’s work demonstrates that a country’s institutions play a crucial role in its economic development. They argue that inclusive institutions promote growth, while extractive ones hinder it. Their research also explains how colonial legacies have shaped modern economic disparities between nations.
Acemoglu and his colleagues have provided valuable insights into the mechanisms of democratization and the challenges of economic reform in countries with entrenched power structures.
This prestigious award not only recognizes Acemoglu’s significant contributions to economic theory but also highlights the global impact of Armenian intellectual talent in addressing crucial societal challenges.
