The 2025 Nobel Prize in Economics was awarded to leading and influential scholars — American Joel Mokyr, French economist Philippe Aghion, and fellow American Peter Howitt, reports Nobelprize.org.
The Nobel committee recognized the three economists “for providing a scientific explanation of the process of innovative economic growth.” Their theory revealed how technological change and the process known as “creative destruction” shape the long-term prosperity of nations.
According to the Nobel Committee’s statement, over the past two centuries humanity has, for the first time in history, experienced a period of stable and systematic economic growth. This process has helped millions escape poverty and laid the foundation for prosperous societies.
“This year’s laureates — Mokyr, Aghion, and Howitt — have demonstrated that innovation is the main driving force of progress. They have reminded us that sustainable growth is not a natural state but the result of continuous effort and discovery. For much of human history, stagnation rather than growth has been the norm. Their work reminds us of the importance of recognizing and countering the threats that hinder growth,” the committee’s statement reads.
For reference, in 2023, the Nobel Prize in Economics was awarded to American researcher Claudia Goldin for her studies on the role and development trends of women in the labor market. The following year, 2024, Massachusetts Institute of Technology professors Daron Acemoglu and Simon Johnson, along with University of Chicago professor James Robinson, received the prize “for their research on the formation of institutions and their impact on economic prosperity.”
This year’s award once again highlights humanity’s aspiration to achieve sustainable progress through innovation.
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