In a recent announcement by the Royal Swedish Academy of Sciences, the 2024 Nobel Prize in Economics was awarded to Daron Acemoglu, Simon Johnson, and James A. Robinson. The Academy emphasized the significance of societal institutions in determining a country’s prosperity, highlighting the groundbreaking work of this year’s laureates.
Upon delving into Acemoglu’s recent publications, particularly “The Narrow Corridor” co-authored with James Robinson and “Power and Progress” with Simon Johnson, it becomes evident that Acemoglu’s perspective on the role of the state has evolved. His idealistic view of the state, devoid of public choice considerations, is palpable in these works, especially in “Power and Progress.”
Critics have pointed out that Acemoglu’s language and terminology at times reflect a progressive agenda, with words like “societal” replacing more traditional terms like “social.” This linguistic shift has raised eyebrows among scholars, with some tracing the origins of the term “societal” back to a 19th-century utopian thinker named Minor Hugo. The use of this word by modern intellectuals is seen as an attempt to elevate discussions on social issues above traditional economic analysis.
The controversy surrounding Acemoglu’s language choices has sparked debate within academic circles, with some questioning the underlying motives behind this shift in terminology. Despite the criticisms, Acemoglu’s work continues to be influential in the field of economics, garnering recognition from prestigious institutions like the Nobel Foundation.
As we reflect on the implications of Acemoglu’s latest publications, it is clear that his ideas have sparked important conversations about the intersection of economics, politics, and society. The ongoing dialogue surrounding his work serves as a reminder of the power of language in shaping our understanding of complex issues and the role of institutions in driving economic prosperity.
