The <a href="https://www.world-today-news.com/nobel-prize-in-economics-2024-daron-acemoglu-simon-johnson-james-a-robinson-the-prize/" title="Nobel Prize in Economics 2024: Daron Acemoglu, Simon Johnson, James A. Robinson the prize
-“>2024 Nobel Prize in Economics was awarded to three people: Professors Daron Acemoglu and Simon Johnson of the Massachusetts Institute of Technology (MIT), and Professor James Robinson of the University of Chicago. There is a lively debate in American economic circles regarding the premise and methodology of the award-winning research.
Acemoglu and his colleagues co-authored an award-winning paper in 2002 that answered the fundamental question, “Why are some countries rich and prosperous, while others are extremely poor?” An analysis based on the differences in the political and social systems established by each country. It concluded that “the path that individual countries take toward prosperity may differ depending on the institutional structure established in that country by its former colonial power.”
Professor Frederico Finan, who was a former student of Mr. Robinson and currently teaches at the University of California, Berkeley, said in an interview on the school’s public relations site on October 14, “Traditionally, economics has focused on politics. There has been little attention paid to determining how public wealth is distributed and how it affects people’s living standards, but the winners argue that these are the keys to prosperity and the poor. “We have convincingly shown that the impact on human welfare is significant.”
The award-winning research cited the example of Nogales, a community located on the border between Arizona and Mexico in the southwestern United States, where the American side is rich and the Mexican side is poor. (Mr. Acemoglu) argues that
Regarding this view, the US newspaper “New York Times” reported in an October 14 commentary that “Some economists have criticized the study for being premised on a Eurocentric view.” Same…
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