The 2024 Nobel Prize in Economics, worth $1.1m, highlights the significant role of institutions in reducing income disparities among nations, as emphasized by the committee.
Jakob Svensson noted that the differences in income between countries is one of today's greatest challenges, underlining the foundation of their research.
Daron Acemoglu expressed his surprise and joy upon winning, stating it was "a real shock and amazing news" after the announcement.
The prize underscores the contributions of US-based economists to the field, continuing a trend of American dominance in various scientific awards.
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