The Nobel Prize in Economic for 2025 has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their groundbreaking work on innovation and economic growth. According to the Nobel committee, the three economists were recognised for explaining innovation-driven economic growth. Joel Mokyr has played a crucial role in identifying the prerequisites for sustained growth through technological progress, while Philippe Aghion and Peter Howitt worked for the theory of sustained growth through creative destruction. Joel Mokyr, a Dutch-Israeli-American economic historian at Northwestern University, used historical evidence to understand how societies moved from stagnation to self-sustaining economic growth. Philippe Aghion of the Collge de France and Peter Howitt of Brown Un

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