NSF congratulates laureates of the 2024 Nobel Prize in economics

The U.S. National Science Foundation congratulates Daron Acemoglu and Simon Johnson of the Massachusetts Institute of Technology and James A. Robinson of the University of Chicago as the 2024 recipients of the Nobel Prize in economics - formally the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel- for studies on how societies form political and economic institutions that affect a nation's prosperity.

The groundbreaking research provides insights into the global challenge of inequality and charts a path for nations striving for prosperity and democracy. The laureates' research, supported by NSF and spanning two decades, transformed the understanding of why nations differ in prosperity and how choices about governance and other factors in a nation's history - particularly following colonization - can influence those differences for centuries.

By combining theoretical models with extensive data from historical records, the collaborators revealed why authoritarian regimes remain in place, even as they hinder national growth, and showed how factors as unexpected as a colonizing nation's concerns about endemic disease can hinder national development for generations.

"In revealing fundamental obstacles facing nations as they strive to grow, this year's laureates have not only identified several root causes of inequality among nations, they helped nations identify a way forward toward progress," said NSF Director Sethuraman Panchanathan. "The impacts of their work are far reaching, from disaster resilience to conflict resolution to providing guiding insights to future leaders."

Since the awarding of the first Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1969, NSF has been proud to have funded 71 of the 96 laureates to receive the prize to date, including every prize awarded since 1997.

Select NSF awards supporting Acemoglu, Johnson and Robinson:

• Award 0443465 - Understanding Institutions.
• Award 0729361 - Human and Special Dynamics (HSD): An Analytic Framework for Political and Social Change: Conflict, Beliefs, and Dynamics.
• Award 2215324 - State Building Via Punitive and Restorative Justice: Evidence From a Field Experiment.