Yerevan/Mediamax/. Armenian President Serzh Sargsyan held a speech at Massachusetts Institute of Technology, mentioning the works of renowned economist of Armenian descent Daron Acemoglu.

“One of this institute’s distinguished representatives of recent years is Daron Acemoglu, whose theoretical work met wide recognition in the world. One of essential arguments in his works indicates that economic welfare directly depends on institutional development, particularly on mutual involvement of economic and political institutes. It is owing to these institutes that we can end poverty and other evils ailing the people.

We proved the validity of this argument with our own experience. It’s very difficult to implement any reforms if people lost faith in justice, if public institutions don’t reflect what people really wish. It’s very difficult to picture institutes if people don’t believe in their poductivity, in priority of rights and everyone’s equality before the law without discrimination,” said Armenian President.

“However, who makes institutions if not people? I have never doubted that Armenians are bright and exceptional persons through my entire career in politics. Now it is time for that significant creative potential to bring results.

I dream about Armenia where strong and successful individuals spare no efforts and enthusiasm to create sustainable state and public institutions. That dream will come true only when people are sure that those institutions belong to them. This vision of mine is not a secret for anybody. Moreover, we consecutively work to make it real in Armenia.

We made essential changes in our Constitution recently. In this regard, the next one and a half - two years will be extremely important, as our state is undergoing a system change.

I am convinced that this work will be productive and visible for our people. The guarantee for that is not only our political will, but also Armenian citizens, the enterprising, eager, devoted to their homeland Armenians. The guarantee for that is political will of every Armenian citizen. We all co-own this guideline.

I hope that we’ll be able to prove through our experience the rightness of Daron Acemoglu’s theoretical work as well. I also hope that he receives Nobel Prize in Economics, once again glorifying this grand institute,” said Armenian President.