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2h ago

Mokyr, Aghion and Howitt Win 2025 Economics Nobel for Innovation-Driven Growth Research

The Academy honored research linking innovation-led creative destruction to sustained economic growth.

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Bilder von Joel Mokyr, Philippe Aghion und Peter Howitt sind auf einem Bildschirm zu sehen.
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Overview

  • Joel Mokyr receives half of the 11 million SEK award, with Philippe Aghion and Peter Howitt sharing the other half.
  • Hans Ellegren described the theme as creation and destruction, citing the laureates' explanation of how innovation underpins long-run growth.
  • Mokyr is recognized for identifying historical prerequisites for sustained growth, while Aghion and Howitt developed a 1992 model of creative destruction.
  • The laureates are based at Northwestern University (Mokyr), Collège de France and LSE (Aghion), and Brown University (Howitt), reflecting U.S. and European research ties.
  • Aghion urged Europe to strengthen innovation policy and finance, warning that protectionism and U.S./China tech dominance threaten growth; the Nobel ceremony is set for December 10.