Stockholm, Oct 13: The final Nobel of this year’s prize season in Economic Sciences was awarded to Joel Mokyr (Northwestern University, USA), Philippe Aghion (Collège de France and INSEAD, Paris, France), and Peter Howitt (Brown University, USA) for their groundbreaking work in explaining innovation-driven, sustained economic growth.

The Royal Swedish Academy of Sciences, announcing the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025”, on Monday, stated that half of the prize was awarded to Mokyr “for having identified the prerequisites for sustained growth through technological progress,” while the other half was shared jointly by Aghion and Howitt “for the theory of sustained growth through creative destruction.”

“Over the last two centuries, for the first

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