Economics Nobel Prize winner calls for robust democratic institutions at Athens event
At the Economist Impact conference in Athens Monday, MIT economist Daron Acemoglu stressed the importance of strong institutions in reinforcing democracy, shortly after being announced as a 2024 Nobel Prize winner in Economics.
Acemoglu, who shares the prize with Simon Johnson and James Robinson, highlighted how institutions are crucial in addressing global challenges like artificial intelligence, inequality and climate change.
“The prize was awarded for my work on institutions, which matter more today than ever,” Acemoglu said. “We need to strengthen democracy and ensure it works for everyone.”
He expressed concern that democratic institutions in the US and Europe are losing public support. “Democracies particularly underperform when the population thinks they underdeliver,” he said. “This is a time when democracies are going through a rough patch. It’s crucial they reclaim the high ground of better governance.”
Turkish-born Acemoglu, 57, said he was surprised by the award. “You never expect something like this,” he said. [Kathimerini/AP]
