(Source: Official X Account of Nobel Prize) Show Quick Read Summary is AI Generated. Newsroom Reviewed

The Nobel Prize In Economics 2025 was awarded to Joel Mokyr, Philippe Aghion and Peter Howitt — the team which has explained the concept of "innovation-driven economic growth".

The prize, amounting to 11 million Swedish kronor, has been divided with one half going to Joel Mokyr of Northwestern University, and the other half shared between Philippe Aghion of the London School of Economics; and Peter Howitt of Brown University.

The three laureates have been recognised for their pioneering work in explaining how innovation and technological progress drive long-term economic growth. Their research connects the historical, theoretical and mathematical foundations of what makes economie

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