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.
They have identified the historical roots of the weak institutional environments that characterize many low-income countries today, highlighting how the structure of governance affects economic outcomes.
Acemoglu emphasized that public institutions and the rule of law are being weakened in many parts of the world, and it’s crucial for democracies to reclaim better governance.
The award follows a World Bank report indicating that the world's 26 poorest countries are experiencing unprecedented debt levels, complicating efforts against poverty.
Collection
[
|
...
]