TL;DR

• The 2025 Nobel Prize in Economic Sciences went to Joel Mokyr, Philippe Aghion, and Peter Howitt.
• Their groundbreaking work focuses on how innovation drives long
• term economic growth.
• Mokyr was honored for identifying cultural and institutional conditions that foster innovation.
• Aghion and Howitt shared the other half for their theory of creative destruction.
• This theory explains how new technologies replace outdated ones, spurring progress.
• The award recognized decades of research linking productivity, innovation, and policy design.
• The Nobel Committee highlighted their collective contributions to modern growth theory.
• Their insights influence how governments craft innovation and education policies.
• The winners’ work also shapes how economists understand inequality from innovation gaps.
• This year’s Nobel underscores the pivotal role of continuous innovation in prosperity.