As Nobel Prize winners prove, strong institutions are good for us
The 2024 prize in Economic Sciences went to Daron Acemoglu, Simon Johnson, and James Robinson. Their studies have vital lessons for today’s democracies.
On Monday, the Nobel Committee awarded the 2024 prize in economic sciences to Daron Acemoglu, Simon Johnson and James A. Robinson for “studies of how institutions are formed and affect prosperity”.
This is a timely prize with vital lessons for today’s democracies. It’s rather ironic, then, that the laureates used historical events from 500 years ago to teach us.
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Richard Holden is Scientia Professor of Economics at UNSW Business School. Connect with Richard on Twitter.
