Daron Acemoğlu Quote
Today Ethiopia is one of the poorest countries in the world. The income of an average Ethiopian is about one-fortieth that of an average citizen of England. Most people live in rural areas and practice subsistence agriculture. They lack clean water, electricity, and access to proper schools or health care. Life expectancy is about fifty-five years and only one-third of adults are literate. A comparison between England and Ethiopia spans world inequality. The reason Ethiopia is where it is today is that, unlike in England, in Ethiopia absolutism persisted until the recent past. With absolutism came extractive economic institutions and poverty for the mass of Ethiopians, though of course the emperors and nobility benefited hugely. But the most enduring implication of the absolutism was that Ethiopian society failed to take advantage of industrialization opportunities during the nineteenth and early twentieth centuries, underpinning the abject poverty of its citizens today. T
Today Ethiopia is one of the poorest countries in the world. The income of an average Ethiopian is about one-fortieth that of an average citizen of England. Most people live in rural areas and practice subsistence agriculture. They lack clean water, electricity, and access to proper schools or health care. Life expectancy is about fifty-five years and only one-third of adults are literate. A comparison between England and Ethiopia spans world inequality. The reason Ethiopia is where it is today is that, unlike in England, in Ethiopia absolutism persisted until the recent past. With absolutism came extractive economic institutions and poverty for the mass of Ethiopians, though of course the emperors and nobility benefited hugely. But the most enduring implication of the absolutism was that Ethiopian society failed to take advantage of industrialization opportunities during the nineteenth and early twentieth centuries, underpinning the abject poverty of its citizens today. T
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About Daron Acemoğlu
Acemoglu ranked third, behind Paul Krugman and Greg Mankiw, in the list of "Favorite Living Economists Under Age 60" in a 2011 survey among American economists. In 2015, he was named the most cited economist of the past 10 years per Research Papers in Economics (RePEc) data. According to the Open Syllabus Project, Acemoglu is the third most frequently cited author on college syllabi for economics courses after Mankiw and Krugman.
In 2024, Acemoglu, James A. Robinson, and Simon Johnson were awarded the Nobel Memorial Prize in Economic Sciences for their comparative studies in prosperity between states and empires. He is regarded as a centrist with a focus on institutions, poverty and econometrics.