Nobel Prize: Why are some countries so much richer than others?
Why Acemoglu, Johnson and Robinson won the Nobel Memorial Prize in Economics
The question of why some countries are rich and some poor has been described as the most important question in economics.
Perhaps that is why the Royal Swedish Academy of Sciences awarded the Nobel Memorial Prize in Economics to Daron Acemoglu, Simon Johnson and James Robinson for their work on the importance of institutions in the economic fortunes of nation states.
Tim Harford explains the economic theory that underpins their award.
Presenter: Charlotte McDonald
Reporter: Tim Harford
Producer: Bethan Ashmead Latham
Series producer: Tom Colls
Production co-ordinator: Katie Morrison
Sound mix: Giles Aspen
Editor: Richard Vadon
Image: The door to the Swedish Academy is pictured ahead of the announcement of the laureate of the 2024 Nobel Prize in Literature in Stockholm, Sweden (Photo by JONATHAN NACKSTRAND/AFP via Getty Images)
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