Does innovation ipso facto spur economic growth, and does that, in turn, raise living standards? It’s often tempting to answer in the affirmative. History, however, shows that the links between the three are not straightforward. At a moment when the world is on the cusp of a tech revolution that could upend conventional notions of labour and creativity, raising optimism and creating disruption, the Nobel Committee has honoured three economists who have shone a light on why innovations enhance human well-being. Together, the work of Joel Mokyr at Northwestern University in the US, Philippe Aghion at the London School of Economics and Peter Howitt of Brown University explains why the world began growing at an unprecedented pace over the last two centuries, how societies sustained growth, and

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