NEWS

2 Penguin Random House Authors Awarded the 2024 Nobel Prize in Economics

Our authors James Robinson ( L ) and Daron Acemoglu ( R ).

We are thrilled to announce that Daron Acemoglu and James A. Robinson, esteemed authors published by Crown Currency and Penguin Press, have been awarded the 2024 Nobel Prize in Economics, along with Simon Johnson. This prestigious accolade recognizes their groundbreaking research on the gaps of prosperity between nations and why poor rule of law and exploitative institutions do not generate sustainable growth. Their collaborative work has provided invaluable insights into the mechanisms that underpin economic success and failure, influencing both academic circles and public policy worldwide. Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences, said, “Reducing the vast differences in income between coun­tries is one of our time’s greatest challenges. The laureates have demonstrated the importance of societal institutions for achieving this.” 

Daron Acemoglu is the Elizabeth and James Killian Professor of Economics at MIT. In 2005 he received the John Bates Clark Medal, given to economists under age forty judged to have made the most significant contribution to economic thought and knowledge, in 2012 he was awarded the Erwin Plein Nemmers Prize in economics for work of lasting significance, and in 2016 he received the BBVA Frontiers of Knowledge Award in economics, finance, and management for his lifetime contributions. 

James A. Robinson, a political scientist and economist, is one of nine University Professors at the University of Chicago. Focused on Latin America and Africa, he is currently conducting research in Bolivia, the Democratic Republic of the Congo, Sierra Leone, Haiti, and Colombia, where he has taught for many years during the summer at the University of the Andes in Bogotá. 

Acemoglu and Robinson’s 2020 title, THE NARROW CORRIDOR: States, Societies, and the Fate of Liberty (Penguin Press), delves into the delicate balance between state power and societal strength, exploring how nations navigate the perilous path to freedom and prosperity. Their earlier work, WHY NATIONS FAIL: The Origins of Power, Prosperity, and Poverty (Crown Currency), has become a seminal text in economic literature, offering a compelling analysis of why some nations achieve wealth and stability while others fall into poverty and chaos. Both books have cemented their reputation as leading thinkers in the field and continue to inspire readers and policymakers alike. 

A very warm congratulations to our Penguin Random House authors and their landmark achievement!     

Watch Professor Hans Ellegren, Secretary General of the Royal Swedish Academy of Sciences,  present the Sveriges Riksbank Prize in Economic Sciences: