The College is delighted to express its heartfelt congratulations to Professor Simon Johnson (1981, PPE), who has been awarded this year’s Nobel Memorial Prize in Economic Sciences for research on global inequality. He shares the award with Professor James A Robinson and Professor Daron Acemoğlu.

Professor Johnson is the Ronald A. Kurtz Professor of Entrepreneurship at the Sloan School of Management, Massachusetts Institute of Technology (MIT). Following Corpus, he went on to study for an MA at the University of Manchester and was awarded a PhD in Economics from MIT in 1989. From March 2007 through to the end of August 2008, he was Chief Economist of the International Monetary Fund.

Professor Johnson’s research has focused on the lasting impact of colonial institutions and how inclusive political systems are essential for long-term economic development. His studies have significantly shaped modern economic thought, providing policymakers with valuable tools to address inequality and promote sustainable growth. His Nobel-winning work highlights the importance of inclusive institutions in driving long-term economic development, offering valuable insights into why some nations thrive while others lag behind.

Professor Johnson writes: "I started at Corpus in History and Economics, but after prelims Andrew Glyn suggested that I switch to PPE, in order to devote more time to economics. That was the best advice I ever received." 

The late Andrew Glyn was Fellow and Tutor in Economics at Corpus from 1969 to 2007 and the College's Fellowship in Economics is named in his memory. 

Commenting on the news, Professor James Duffy, Andrew Glyn Fellow and Tutor in Economics says: “The historical emergence of wide gaps in prosperity between societies is one of the most fundamental questions in economics. Johnson’s research demonstrates how institutions are responsible for those gaps. Societies without the rule of law, and with extractive institutions, sacrifice long-term benefits for society to generate short-term gains for the few in power, and ultimately become trapped in a vicious cycle of poor institutions and poor economic growth. At a time when political and economic institutions are threatened by the recrudescence of the far right across Europe and North America, Johnson's research is of more relevance than ever.

I am thrilled to be able to count Prof Johnson as part of the intellectual tradition of PPE here at Corpus. His research straddles the disciplines of Economics and Politics in a way that exemplifies the kind of inquiry that is made possible by the multidisciplinary grounding of the PPE degree."