The 2025 Nobel Prize for Economics has been awarded to Joel Mokyr, Philippe Aghion and Peter Howitt for their work explaining how innovation can drive economic growth.
Mokyr, a professor at Northwestern University in the US, won because of his work identifying the pre-requisites for sustained economic growth, the committee awarding the prize said.
Aghion, professor at the College de France and the London School of Economics, and Peter Howitt at Brown university in the US, were joint winners for developing their theory of “sustained growth through creative destruction”, the Nobel committee said.
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