Nobel Prize in Economics awarded to Daron Acemoğlu!

The Nobel Prize in Economics has been awarded to Daron Acemoğlu, Simon Johnson, and James A. Robinson for their significant work on economic development and the role of institutional structures.

The award recognizes the three academics' contributions to the study of social and economic inequalities.

HE BECAME THE 3RD PERSON TO RECEIVE A NOBEL PRIZE

Professor Daron Acemoğlu, a faculty member at one of the United States' leading universities, MIT, has become the third person from Turkey to receive a Nobel Prize. Previously, Orhan Pamuk had won the Nobel in Literature and Aziz Sancar in Chemistry.

The Royal Swedish Academy of Sciences decided to award the 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Daron Acemoğlu, Simon Johnson, and James A. Robinson "for studies of how institutions are formed and affect prosperity."

FIRST STATEMENT FROM DARON ACEMOĞLU

Speaking at a press conference held after the announcement of the award, Acemoğlu stated,

"Instead of asking whether colonialism was good or bad, we point out that different colonial strategies led to different institutional models that persisted over time. Generally speaking, our work is in favor of democracy. However, democracy is not a panacea for all ills."

According to a report by The New York Times, Acemoğlu noted that bringing about democracy can be difficult, and stated that for non-democratic countries, there are paths to growth, including rapidly utilizing a nation's resources to accelerate economic progress.

Acemoğlu has long been at the top of lists regarding who might win the Nobel, but he said the award is not something one can expect. Joining the press conference from Athens, Acemoğlu said, "You dream of having a good career, but this award is beyond that. This is a huge surprise and an honor."

News Source: 12punto