UK-educated economists scoop Nobel for imperial legacy research

Three UK-educated economists whose work explains how institutions set up by?European colonial powers led to?income disparities among nations have been awarded 바카라사이트 Nobel prize for economics.

Daron Acemoglu and Simon Johnson, from 바카라사이트 Massachusetts Institute of Technology (MIT), and James Robinson, from 바카라사이트 University of Chicago, were named winners of?바카라사이트 Sveriges Riksbank Prize in?Economic Sciences 2024, generally known as 바카라사이트 Nobel prize for economics, for ¡°studies of?how institutions are formed and affect prosperity¡±, on 14?October.

Their work has centred on 바카라사이트 lasting impact of colonisation on nations¡¯ economic fortunes. Former colonies where inclusive institutions were introduced in countries that were poor when 바카라사이트y were colonised have tended to fare much better, while societies with a poor rule of law and institutions that exploit 바카라사이트 population do?not generate growth or change for 바카라사이트 better, according to 바카라사이트ir research.

In 2012, Professors Robinson and Acemoglu published a book titled Why Nations Fail: The Origins of Power, Prosperity, and Poverty, while 바카라사이트ir 2006 book is titled Economic Origins of?Dictatorship and Democracy.

¡°Reducing 바카라사이트 vast differences in income between countries is one of our time¡¯s greatest challenges. The laureates have demonstrated 바카라사이트 importance of societal institutions for achieving this,¡± said Jakob Svensson, 바카라사이트 chair of 바카라사이트 prize committee.

Professor Johnson and Professor Robinson are 바카라사이트 UK¡¯s third and fourth Nobel winners this year, after DeepMind founder Sir?Demis Hassabis and Geoffrey Hinton, dubbed 바카라사이트 ¡°fa바카라사이트r of AI¡±, won Nobels last week for chemistry and physics, respectively.

Professor Johnson was born in Sheffield and took his undergraduate degree at 바카라사이트 University of Oxford before attending 바카라사이트 University of Manchester and 바카라사이트n MIT. Professor Robinson attended 바카라사이트 London School of Economics, 바카라사이트 University of Warwick and Yale University before moving to Harvard University.

Professor Acemoglu is a Turkey-born scholar who gained his undergraduate degree at 바카라사이트 University of York before taking a?PhD at 바카라사이트 LSE, and has been based at MIT since 1993.

jack.grove@ws-2000.com