Daron Acemoglu, Simon Johnson and James Robinson won the 2024 Nobel economics prize 'for studies of how institutions are formed and affect prosperity', the...
STOCKHOLM - Daron Acemoglu , Simon Johnson and James Robinson won the 2024 Nobel economics prize "for studies of how institutions are formed and affect prosperity", the Royal Swedish Academy of Sciences said on Monday.
The economics award is not one of the original prizes for science, literature and peace created in the will of dynamite inventor and businessman Alfred Nobel and first awarded in 1901, but a later addition established and funded by Sweden's central bank in 1968. The economics prize has been dominated by U.S. academics since its inception, while U.S.-based researchers also tend to account for a large portion of winners in the scientific fields for which 2024 laureates were announced last week.
Major financial companies had kicked off the third-quarter corporate earnings season on a broadly positive note on Friday, with JPMorgan Chase, Wells Fargo and BlackRock rallying after the results. Still, with stock valuations stretched - the S&P 500 is trading at 21.7 times forward earnings, versus a long-term average of 15.7 - companies will be forced to justify them and satisfy investors.
Simon Johnson Royal Swedish Academy Of Sciences Nobel Economics Prize James Robinson Daron Acemoglu Economic Sciences Institutions Swedish Crowns Jakob Svensson Milton Friedman
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