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Institutions Matter – Nobelpreis 2024 an Daron Acemoğlu, Simon Johnson, James Robinson

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  • Sauerland Dirk

Abstract

Daron Acemoğlu, Simon Johnson and James Robinson were awarded the Nobel Prize in 2024 for their research on the impact of institutions on the prosperity of nations. They expanded the classical economic theory of market mechanisms, capital accumulation and technology to include the institutional and political-economic dimension. By skilfully identifying natural experiments, they show how inclusive institutions promote long-term prosperity, while extractive institutions lead to instability. The choice of institutions – not geography – determines economic success. Various critiques of their work demonstrate how they advance the debate, address their identification, the role of property rights and the insufficient differentiation between countries with similar institutional structures.

Suggested Citation

  • Sauerland Dirk, 2025. "Institutions Matter – Nobelpreis 2024 an Daron Acemoğlu, Simon Johnson, James Robinson," Wirtschaftsdienst, Sciendo, vol. 105(2), pages 132-137.
    • Handle: RePEc:vrs:wirtsc:v:105:y:2025:i:2:p:132-137:n:1014
    DOI: 10.2478/wd-2025-0034
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    JEL classification:

    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O57 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
    • P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems

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