Overview

• Joel Mokyr receives half of the 11 million Swedish kronor award, with Philippe Aghion and Peter Howitt sharing the other half.
• Mokyr is cited for identifying historical and social conditions that let technological progress become self-sustaining, emphasizing scientific understanding and openness to new ideas.
• Aghion and Howitt are honored for a 1992 model of creative destruction that formalized how new technologies displace older firms and why this process can generate economic conflicts.
• The Nobel committee, including chair John Hassler and secretary-general Hans Ellegreen, stresses that growth is not guaranteed and that policies must preserve innovation while addressing losers from technological change.
• Commentary ties the laureates’ work to current debates on AI, big tech regulation, labor re-skilling and trade tariffs, early reactions include praise from Argentina’s president Javier Milei, and the formal ceremony is scheduled for December 10.