Overview
- The 2025 Nobel Prize in Economic Sciences was announced Monday for Joel Mokyr, Philippe Aghion and Peter Howitt for explaining how innovation drives economic growth.
- The prize is split with half to Mokyr for identifying the prerequisites for sustainable growth through technological progress and the other half jointly to Aghion and Howitt for their theory of growth via creative destruction.
- Committee chair John Hassler said economies must preserve the mechanisms of creative destruction to avoid stagnation.
- Mokyr is affiliated with Northwestern University, Aghion with the Collège de France and the London School of Economics, and Howitt with Brown University.
- Reporting notes the laureates’ profiles as Philippe Aghion, 69, French; Joel Mokyr, 79, American‑Israeli; and Peter Howitt, 79, Canadian.