Three American scientists won the Nobel Prize in Economics this year, for their research on social institutions and prosperity.
Acemoglu and Johnson are both currently working at the Massachusetts Institute of Technology (MIT). Meanwhile, Robinson is working at the University of Chicago (USA). All three are authors of many famous books on economics. Among them are Power and Progress and Why Nations Fail.
"Narrowing the income gap between countries is one of the biggest challenges today. The scientists have demonstrated the importance of social institutions in solving this problem," commented Jakob Svensson - Chairman of the Nobel Prize in Economics Committee.
The economics prize is the last prize awarded each year, after medicine, physics, chemistry, literature and peace. The Nobel Prize for this field was not part of the original prize structure in the will of Swedish scientist Alfred Nobel. This prize was added in 1968, on the occasion of the 300th anniversary of the Swedish Central Bank - Sveriges Riksbank, which also contributes funds to this prize.
The nomination, selection and awarding process for the Nobel Prize in Economics is similar to that for other fields. The names of the nominees and all other information about them are kept secret for 50 years. This year’s laureate receives a medal, a diploma and 11 million Swedish kronor (more than $1 million).
The Nobel Prize in Economics has been awarded 56 times to date. The youngest winner was 46 years old and the oldest was 90. American scientists currently dominate the award.
Last year, the award went to her. Claudia Goldin (78 years old) - professor at Harvard University (USA). She was honored for her research on women's income and contribution to the labor market. The purpose is to find out the ways and causes of gender gaps in income and labor force participation rates. Goldin is the third woman to win this award in the past 56 years.
List of Nobel Prizes in Economics in the past 10 years:
| Year | Winner | Project | Nation |
| 2023 | Claudia Goldin | Women's earnings and contributions to the labor market | America |
| 2022 | Ben Bernanke, Philip Dybvig and Douglas Diamond | The role of banks in financial crises. | America |
| 2021 | David Card, Joshua Angrist and Guido Imbens | Labor economics and methodology in causality | Canada, USA and Netherlands |
| 2020 | Paul R. Milgrom and Robert B. Wilson | Auction Theory | America |
| 2019 | Abhijit Banerjee, Esther Duflo and Michael Kremer | Experimental approaches to global poverty reduction | America and France |
| 2018 | William Nordhaus Paul Romer | Climate economics Endogenous growth theory | America |
| 2017 | Richard H. Thaler | Behavioral economics | America |
| 2016 | Oliver Hart and Bengt Holmström | Contract Theory | America and Finland |
| 2015 | Angus Deaton | The relationship between consumption, poverty and welfare | America |
| 2014 | Jean Tirole | How to manage large corporations and companies in the market | France |
| 2013 | Eugene F. Fama, Lars Peter Hansen, Robert J. Shiller | Asset Price Analysis | America |
Source
Comment (0)