VOA新闻杂志2024--Nobel Prize Brings Attention to Worldwide Inequality

The Nobel Committee has brought attention to worldwide inequalities by awarding its economic prize to three Americans: Daron Acemoglu, Simon Johnson, and James A. Robinson.

The Nobel committee of the Royal Swedish Academy of Sciences said the three won the 2024 Nobel Economics¹ Prize "for studies of how institutions are formed and affect prosperity."

Committee chair Jakob Svensson said, "Reducing the vast differences in income between countries is one of our time's greatest challenges." He added that their research has provided "a much deeper understanding of the root causes of why countries fail or succeed."

The wealthiest 20 percent of the world's countries are now around 30 times richer than the poorest 20 percent, the Royal Swedish Academy of Sciences noted². The difference continues although poor countries have become relatively³ richer.

In 2021, the World Inequality Report said that the poorest half of the world's population owned just two percent of wealth while the richest 10 percent controlled 76 percent of wealth.

Acemoglu and Johnson work at the Massachusetts Institute of Technology, while Robinson conducts his research at the University of Chicago.

Their findings are included in the 2012 book Why Nations Fail: The Origins of Power, Prosperity, and Poverty written by Acemoglu and Robinson.

In their work, the winners studied the city of Nogales, which sits on both sides of the U.S.-Mexico border.

Despite sharing the same geography, climate, many of the same ancestors and a common culture, life is different on either side of the border. In Nogales, Arizona, to the north, people are relatively wealthy and live long lives; most children complete high school. To the south, in Mexico's Nogales, Sonora, people are much poorer, and the city suffers from organized crime and corruption⁴.

The difference, the economists⁵ said, is a U.S. system that protects property rights and gives citizens a say in their government.

The book includes evidence from ancient Rome to modern-day Nogales. It says that "inclusive⁶ institutions" make countries richer. It also says democracy, the rule of law and the protection of property rights prevent a small ruling class from owning most resources and wealth.

Reached by the academy in Athens, Greece, the Turkish-born Acemoglu said he was surprised and shocked by the award. He said the research honored by the prize underscores the value of democratic institutions.

"I think broadly speaking the work that we have done favors democracy," he noted.

Acemoglu and Robinson had to explain why some countries with less-than-democratic systems, like Singapore and China, have become much wealthier.

Robinson told the Associated Press that he does not believe China can continue its economic prosperity under a repressive political system.

"There's many examples in world history of societies like that that do well for 40, 50 years," Robinson said by phone. "What you see is that's never sustainable...The Soviet⁷ Union did well for 50 or 60 years. Argentina was one of the richest countries in the world at the time of the First World War. What our theory predicts is that's a transitory situation."

Robinson said many societies have successfully made the transition⁸ to what he, Acemoglu and Johnson call an "inclusive society.''

"In the modern world, you've seen that in South Korea, in Taiwan, in Mauritius," he said.

The Royal Swedish Academy of Sciences awards the prize in memory of Alfred Nobel. The prize was established after Nobel's death.

Words in This Story

institution -n. an established organization

prosperity -n. a state of growing, improving and being successful

vast -adj. very large in extent or size

transitory -adj. taking place over a relatively short period of time; changing over time

1 economics   

n.经济学，经济情况

参考例句：

• He is studying economics,which subject is very important.他正在学习经济学，该学科是很重要的。
• One can't separate politics from economics.不能把政治与经济割裂开来。

2 noted   

adj.著名的，知名的

参考例句：

• The local hotel is noted for its good table.当地的那家酒店以餐食精美而著称。
• Jim is noted for arriving late for work.吉姆上班迟到出了名。

3 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

4 corruption   

n.腐败，堕落，贪污

参考例句：

• The people asked the government to hit out against corruption and theft.人民要求政府严惩贪污盗窃。
• The old man reviled against corruption.那老人痛斥了贪污舞弊。

5 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

6 inclusive   

adj.(of)包括的，包含的；范围广的

参考例句：

• The bill is inclusive of the food and lodging.账单包括吃、住费用。
• It's an all inclusive price;there is nothing extra to pay.这是一个包罗一切的价格，不需再额外付款了。

7 Soviet   

adj.苏联的，苏维埃的；n.苏维埃

参考例句：

• Zhukov was a marshal of the former Soviet Union.朱可夫是前苏联的一位元帅。
• Germany began to attack the Soviet Union in 1941.德国在1941年开始进攻苏联。

8 transition   

n.转变，变迁，过渡

参考例句：

• Adolescence is the period of transition between childhood and adulthood.青春期是童年与成年之间的过渡时期。
• They all support a peaceful transition.他们全部都支持和平过渡。