A trio of US-based experts have won the 2024 Nobel prize in economics for their insights into helping explain global inequality and how state institutions affect a nation’s prosperity. Daron Acemoglu and Simon Johnson, who work at the Massachusetts Institute of Technology, and Chicago-based James A. Robinson were awarded the prize “for studies of how institutions are formed and affect prosperity,” the Royal Swedish Academy of Sciences announced on Monday. Turkish-American economist Acemoglu, who wrote the widely acclaimed book “Why Nations Fail” in 2012, had been tipped as a favourite for this…