Stockholm, October 13 (askanews) – The 2025 Nobel Prize in Economics has been awarded to American-Israeli Joel Mokyr, Frenchman Philippe Aghion, and Canadian Peter Howitt for explaining how technological progress fuels long-term economic growth. The Royal Swedish Academy of Sciences announced today.
“The Royal Swedish Academy of Sciences has decided to award the 2025 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr (Northwestern University, USA), Philippe Aghion (Collège de France, INSEAD and London School of Economics) and Peter Howitt (Brown University, USA) for their explanations of innovation-driven economic growth,” said Secretary General Hans Ellegren in announcing the award.
“One half of the prize goes to Joel Mokyr for identifying the conditions necessary for sustained growth through technological progress; the other half jointly with Philippe Aghion and Peter Howitt for the theory of sustained growth based on 'creative destruction,'” Ellegren added.
The three economists helped clarify how continuous technological renewal – the replacement of old technologies with new ones – is the key to understanding the long-term evolution of modern economies.
Notizie.it editorial team