Peter Howitt’s academic journey: From McGill BA to becoming a Nobel-winning economist at Brown University

Peter Howitt recently received the Nobel Memorial Prize in Economic Sciences. He shared it with Joel Mokyr and Philippe Aghion. Their research focused on creative destruction. Simply put, it shows how new ideas and technologies replace older ones. This process helps economies grow over time. Howitt’s work explains why some economies continue to expand while others struggle. Creative destruction happens when old products, processes, or ways of doing business give way to new ones. At first, it can feel disruptive. Factories close. Jobs shift. Industries change. But this process is essential for growth. Without it, innovation slows and progress stalls. Howitt, along with Mokyr and Aghion, showed that creative destruction follows patterns that can be studied. Economists can see how idea