Nobel Economics Prize 2025 Goes to 3 Researchers for Explaining Innovation-Driven Economic Growth
Three economists — Joel Mokyr, Philippe Aghion, and Peter Howitt — won the 2025 Nobel Economics Prize for explaining how innovation drives long-term economic growth. Their research on “creative destruction” highlights how new ideas replace old technologies to sustain progress and prevent stagnation.
Nobel Economics Prize 2025 Goes to 3 Researchers for Explaining Innovation-Driven Economic Growth
STOCKHOLM— Joel Mokyr, Philippe Aghion, and Peter Howitt have been awarded the Nobel Memorial Prize in Economic Sciences for their groundbreaking work explaining how innovation drives long-term economic growth.
Mokyr, from Northwestern University, Aghion, from the Collège de France and the London School of Economics, and Howitt, from Brown University, were recognised for their research that deepens understanding of “creative destruction” — the process by which innovations replace outdated technologies.
The Nobel committee said its studies highlight the importance of sustaining innovation mechanisms to prevent economic stagnation.
Last year’s prize went to economists Daron Acemoglu, Simon Johnson, and James A. Robinson for exploring why some nations prosper while others remain poor.
The Economics Prize, established by Sweden’s central bank in 1968, is presented alongside the original Nobel Prizes on December 10 — the anniversary of Alfred Nobel’s death.
(AP)
