In a remarkable achievement, three economists Daron Acemoglu, Simon Johnson, and James Robinson have been awarded the 2024 Nobel Memorial Prize in Economic Sciences. This award recognizes their innovative work on the role of political and economic institutions in shaping prosperity. All three awardees are immigrants to the United States – one from Turkey and two from the United Kingdom. The fact that the laureates are immigrants in America further underscores the invaluable contributions of immigrant communities to the global landscape in several sectors.
2024 Nobel Prize Awarded for Research in Economics and Institutions
The Nobel Committee awarded the prize to Acemoglu, Johnson, and Robinson for their research that explores how institutions, particularly political and economic systems, influence economic development. Their studies provide deep insights into why some nations prosper while others remain in poverty, offering vital lessons for policy design aimed at promoting equitable and sustainable growth across the globe.
This body of work is anchored by their influential book “Why Nations Fail”, which explains how inclusive institutions, particularly, those that allow participation by a broad section of society to foster economic prosperity, while extractive institutions tend to stifle development and increase inequality. Policymakers and scholars widely cite their research, especially in international development, political science, and economics.
Immigrants Contributions to the Global Space – Case of the Nobel Prize
All three recipients have compelling immigrant backgrounds, which have shaped their world-views and academic pursuits.
Daron Acemoglu, a Turkish professor at MIT, is renowned for his research in labor economics, political economy, and technological change.
Simon Johnson, born in the United Kingdom, is a professor at MIT Sloan School of Management and has made significant contributions to understanding financial crises and global economic governance.
James Robinson, a British scholar, teaches at the University of Chicago and is recognized for his expertise in political economy and development economics.
Their shared immigrant experience adds a sensitive dimension to this Nobel recognition, especially at a time when debates around immigration policies remain highly charged. Their achievements are a testament to the role immigrants play in advancing scientific research and fostering intellectual diversity in the U.S.
Immigrant recipients of the Nobel Prize are not new. In 2019, two of the three U.S. winners, Abhijit Banerjee and Esther Duflo, were immigrants. Similarly, in 2021, David Card, an immigrant from Canada, and Guido W. Imbens, from the Netherlands, shared the prize alongside U.S.-born Joshua Angrist. Three of the four U.S. winners in science-related fields in 2021 were also immigrants. In 2023, Katalin Karikó and Drew Weissman won the Nobel Prize in Physiology or Medicine for their groundbreaking work on mRNA vaccines.
Looking Ahead
These achievements highlight the significant role immigrants play in U.S. innovation, with experts urging for immigration reforms to further harness this potential. The 2024 Nobel Prize in Economics not only celebrates three brilliant minds but also reinforces the importance of immigrant contributions to American society and the world at large. As global challenges continue to evolve, Acemoglu, Johnson, and Robinson’s work remains essential for understanding how to design institutions that promote inclusive, long-term growth. As the dynamics of immigration changes in the coming months, their word stands critical in reiterating the positive impacts of immigrants.
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