Dear friends and followers, I'm sharing here the Nobel prize acceptance speech I gave on behalf of Simon Johnson, James Robinson and myself. Thank you everybody.
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On behalf of Professor Johnson, Professor Robinson, and myself, I wish to thank the Royal Swedish Academy of Sciences and the Nobel Foundation for recognizing our work on the origins of economic and political institutions and the ways in which they shape global inequality.
We are heartened by this recognition not just because of the great honor it confers on our work, but also because of the encouragement it provides to many young scholars working on these topics.
This has been a collective effort by many people, including some in this room, demonstrating how combining economics and history can shed light on the big questions of social science.
Our research showed that inclusive institutions – such as democratic participation, the rule of law, secure property rights, and broad access to economic opportunities – are a major contributor to shared prosperity in all parts of the world.
Today, 25 years later, the same institutions are in danger. Democracy is threatened almost everywhere, and support for democratic institutions is at a modern low.
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I love seeing good people and good science getting rewarded.