James A. Robinson, an economist and political scientist at the University of Chicago, was awarded the Nobel Prize in economics along with two professors from the Massachusetts Institute of Technology on Monday.
The three received the award for their work on the differences in prosperity among nations, and the role institutions play in economic progress.
“Reducing the vast differences in income between countries is one of our time’s greatest challenges. The laureates have demonstrated the importance of societal institutions for achieving this,” Jakob Svensson, Chair of the Committee for the Prize in Economic Sciences, said in a news release.
Daron Acemoglu and Simon Johnson of the Massachusetts Institute of Technology shared the award with Robinson.
Robinson is the 101st scholar associated with the University of Chicago to receive a Nobel Prize, and the 34th to receive the Nobel in economics, according to the university. In addition to Robinson, seven current UChicago faculty members are Nobel laureates in economics.
Robinson received his Ph.D. from Yale University, his master’s degree from the University of Warwick and his bachelor’s from the London School of Economics and Political science.
Robinson is the Reverend Dr. Richard L. Pearson Professor of Global Conflict Studies and University Professor in the Harris School of Public Policy and the Department of Political Science. He is also the institute director of UChicago’s Pearson Institute for the Study and Resolution of Global Conflicts.
This is a developing story.