Progress isn’t assured; the Nobel laureates Joel Mokyr, Philippe Aghion, and Peter Howitt stress the need to protect innovation and openness

By Dr Kedar Vishnu

Three economists — Joel Mokyr, Philippe Aghion, and Peter Howitt — were awarded the 2025 Nobel Prize in Economics for their groundbreaking research on innovation-driven economic growth. Their work sheds light on how innovation and technological advancements have supported sustainable development and poverty reduction since the 19th century. The laureates demonstrated how innovation contributed to rising per capita incomes in countries such as Sweden and the United Kingdom, explaining why Sweden, in particular, experienced a significant increase in income and a notable reduction in poverty compared to other nations.

Their resear

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