Story perspectives

Nobel Prize in Economics Honors Innovation and Growth Leaders

10/18/2025

Summary

Story summary

Joel Mokyr, Philippe Aghion, and Peter Howitt were named recipients of the 2025 Nobel Prize in Economic Sciences.
Mokyr's work emphasizes knowledge and culture as engines of growth, especially during the Industrial Revolution.
Aghion and Howitt's theory of creative destruction shows how new innovations replace outdated technologies and boost productivity.
The award emphasizes a supportive environment for innovation and effective U.S. policies to sustain growth amid inequality and climate concerns.

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Story summary

Joel Mokyr, Philippe Aghion, and Peter Howitt were named recipients of the 2025 Nobel Prize in Economic Sciences.
Mokyr's work emphasizes knowledge and culture as engines of growth, especially during the Industrial Revolution.
Aghion and Howitt's theory of creative destruction shows how new innovations replace outdated technologies and boost productivity.
The award emphasizes a supportive environment for innovation and effective U.S. policies to sustain growth amid inequality and climate concerns.