The Nobel Prize in economics has been awarded for work on technology’s impact on sustained economic growth.

The Royal Swedish Academy of Sciences announced on Monday that the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 would be shared among American-Israeli Joel Mokyr, France’s Philippe Aghion and Canada’s Peter Howitt “for having explained innovation-driven economic growth”.

The award was based on the idea that vast numbers of people have been lifted out of poverty over the past two centuries as the world has seen sustained economic growth with technology the underlying cause. Previously, stagnation was the norm throughout most of human history, the jury said in a statement.

Mokyr, a professor at Northwestern University in the United States, won half of

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