Institutions, History, Antagonisms, and Development The Contributions of Daron Acemoglu, Simon Johnson, and James Robinson

The 2024 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson, “for studies on how institutions are formed and affect prosperity.†This article reviews the laureates’ work, emphasizing how their big pictureapproach to long-run development and their broad analytical perspective blending history, economic theory based on class antagonisms, case studies, and an effort to move beyond correlations towards identifying causal effects have enriched and transformed the approach of shedding light on the old inquiry on the deep drivers of prosperity. I then discuss the vast subsequent research on the impact and origins of institutions and historical development, which has brought novel insights about the deep drivers of prosperity, testing old influential conjectures and expanding the set of questions. With authoritarianism on the rise and constitutional checks and balances challenged, the lessons from history and the new insights of this research agenda appear more topical than ever.