Peter Salovey President | Yale University
Peter Salovey President | Yale University
Economist James A. Robinson, a Yale alumnus, has been awarded the 2024 Nobel Memorial Prize in Economic Sciences. Upon receiving the news, Robinson reached out to his former thesis advisor at Yale, Truman Bewley. Reflecting on his academic journey, Robinson acknowledged Bewley's influence on his approach to social science and research.
Robinson is currently the Reverend Dr. Richard L. Pearson Professor of Global Conflict Studies at the University of Chicago. He shares this prestigious prize with Daron Acemoglu and Simon Johnson from MIT. Their collaborative work highlights the role of societal institutions in determining a nation's prosperity.
The Royal Swedish Academy of Sciences recognized their contributions for demonstrating how inclusive institutions established during colonization have impacted economic success or failure across countries. The academy noted that such institutions could explain why some former colonies have experienced significant shifts in wealth over time.
In a 2019 podcast episode by the University of Chicago Podcast Network, Robinson discussed these themes following the release of "The Narrow Corridor," co-authored with Acemoglu. He emphasized that a nation's success hinges on how its people organize society and its institutions.
Bewley recalled Robinson as an idea-driven student during his Ph.D. studies at Yale, frequently engaging in discussions about global economic disparities—a subject indirectly related to his award-winning research.
Robinson's recognition marks him as the third Yale-trained economist to win a Nobel Prize within three years, joining Douglas W. Diamond and Philip H. Dybvig, who were honored in 2022 for their work on bank runs.
Tony Smith, Chair of Yale's Department of Economics, congratulated Robinson and highlighted the department's commitment to rigorous training in economics research that has produced multiple Nobel laureates recently.
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