UK Business

This year’s Nobel prize exposes economics’ problem with colonialism

Written by Jostein Hauge, Assistant Professor in Development Studies, University of Cambridge

Daron Acemoglu, Simon Johnson and James Robinson have been awarded the 2024 Nobel memorial prize in economics for their influential work on how institutions shape economic development. Some would say the decision to award these scholars the Nobel was long overdue.

The paper that formed the basis of their work is one of the...

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