Foremost economist of Armenian descent Daron Acemoglu is going to visit Armenia upon the invitation of Armenian Prime Minister Nikol Pashinyan.

During a telephone conversation with Nikol Pashinyan yesterday night, Daron Acemoglu expressed readiness to assist Armenia in “recovering and developing its economy”.

“Mr. Acemoglu accepted my invitation to visit Armenia. The date of the visit will be set soon,” Nikol Pashinyan said via Facebook post.

According to data of 100 LIVES initiative, a professor of economics at the Massachusetts Institute of Technology, Acemoglu was born in Istanbul in 1967 to Armenian parents.

He is a recipient of the prestigious James Bates Clark Medal, awarded to economists under the age of 40.

Here is what he said:

- The real danger is when economic inequality spills onto the political inequality.

- The key to prosperity is in institutions, not in culture or in geography.

Speaking about the Armenian economist, Douglas Clement, Editor of The Region, said: “Daron Acemoglu’s scholarship are nothing short of breathtaking, verging on implausible. A co-author jokingly complained: “He can write faster than I can digest his research.”

One of his noteworthy works is “Why Nations Fail”.