The Latest Breaking News from Economics

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The 2024 Nobel Prize in Economics has been awarded to three US-based economists who examined the advantages of democracy and the rule of law, and why they are strong in some countries and not others.

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This year’s Nobel memorial prize in economics has gone to Daron Acemoglu and Simon Johnson of the Massachusetts Institute of Technology and James Robinson of the University of Chicago for their work on why there are such vast differences in prosperity between nations.

This year's laureates have demonstrated the importance of societal institutions for a country's prosperity. Read further on Dynamite News:

The prestigious award is the final prize to be given out this year and is worth $1.1 million

Two of the academics also studied at the London School of Economics

Daron Acemoglu, Simon Johnson and James A. Robinson won the 2024 Nobel memorial prize in economics "for studies of how institutions are formed and affect prosperity", the Royal Swedish Academy of Sciences said on Monday.