Janice R. Andrews
The Sveriges Riksbank Prize in Economic Sciences, commonly known as the Nobel Prize in Economics, is set to be announced on Monday, concluding this year’s Nobel season. Experts anticipate that research on poverty, government influence, and wealth inequality may be recognized. Established in 1968, this prestigious award continues to highlight groundbreaking economic work with both academic and practical implications.
Last year’s recipient was American economist Claudia Goldin, honored for her research on women’s labor market outcomes. She became the third woman to receive this award since its inception in 1969, following Elinor Ostrom and Esther Duflo.
As the 2024 announcement approaches, several potential laureates are being discussed. These include Nobuhiro Kiyotaki and John H. Moore for their work on economic cycles, Susan Athey for market design, and Daron Acemoglu for his research on institutions and economic growth.
Predicting the winner is challenging, as the selection is based on research impact rather than popularity. The committee’s interests may influence the choice, with poverty and wealth inequality expected to be central themes this year. Other strong candidates include Philippe Aghion, George Loewenstein, Kenneth Rogoff, Carmen Reinhart, and Andrei Shleifer.
The prize has faced criticism for not being part of Alfred Nobel’s original will, as it was created in 1968 by Sweden’s central bank. However, it follows the same rigorous selection process as other Nobel prizes and remains a globally recognized accolade.
This year’s Nobel season has already seen prizes awarded for achievements in artificial intelligence, nuclear disarmament efforts, literature, and medical breakthroughs. The economics prize, which includes a diploma, gold medal, and $1 million award, will be presented in Stockholm on December 10th, marking Alfred Nobel’s death anniversary.
