Overview

• The 2025 Nobel Prize in Economic Sciences went to Joel Mokyr, Philippe Aghion and Peter Howitt for research explaining long‑run growth.
• Aghion and Howitt are recognized for formal models of creative destruction in which new technologies displace older ones, creating winners and losers.
• Mokyr’s historical work emphasizes a culture of growth in which beliefs, institutions and scientific norms make ideas practical and scalable.
• Aghion told reporters that openness is a driver of growth, reinforcing concerns about protectionism, monopolies and barriers to research.
• Editorials use the award to argue for innovation‑first policies and to highlight trade‑offs such as compensating those harmed by technological change, with South Korean commentary invoking the laureates’ lessons to address a low‑growth outlook.