Three economists were awarded the Nobel Prize Monday for their research into how the nature of institutions helps explain why some countries become rich and others remain poor.

Three immigrants to America won the 2024 Nobel Prize in economics, illustrating continued contributions by immigrants to the United States.

The three economists “have demonstrated the importance of societal institutions for a country’s prosperity,” the Nobel committee of the Royal Swedish Academy of Sciences said.

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STOCKHOLM - The Nobel Prize in economics was awarded to three Americans Monday for their research into why some countries succeed and others fail. Two of the three economists are professors at the Massachusetts Institute of Technology in Cambridge.

Three economists won this year’s Nobel Prize in Economic Sciences for their studies of how institutions are formed and affect prosperity.

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The 2024 Nobel prize in economics has been awarded for widely cited research on global inequality – but there are blind spots in this analysis.

Economic historians get a win, in that Acemoglu, Johnson, and Robinson’s most famous work was on historical processes of development in former colonies. Lefties win, in that Acemoglu has of late become a vocal proponent of policies to expand worker power and has mused about the possibility of “AI-enabled communism.