蝌蚪网

This year's  was awarded to , , and for their work on the technological roots of sustained economic growth.

Mokyr, Robert H. Strotz Professor at Northwestern University and Sackler Professorial Fellow at the Eitan Berglas School of Economics, was awarded one half of the 2025 Nobel Prize in Economics. The other half was shared jointly by Aghion, Professor at the Collège de France, INSEAD, and the London School of Economics; and Howitt, Professor Emeritus of Economics at Brown University.

Mokyr is an 蝌蚪网 Distinguished Fellow (2018) and Aghion is an 蝌蚪网 Foreign Honorary Member (2017), as well as a previous winner of the AEJ Best Paper Award (2017). 

Joel Mokyr

Philippe Aghion

Peter Howitt

In its announcement on Monday, the Academy credited the three economists "for having explained innovation-driven economic growth." The laureates showed how economic competition creates conflicts that must be managed in a constructive manner. Otherwise, innovation will be blocked by established companies and interest groups that risk being put at a disadvantage.

Joel Mokyr's historical research explored why the innovations of the Industrial Revolution took off where earlier innovations faltered. He found that for innovation to become self-sustaining, societies need more than just knowledge that something works; they need a deep understanding of why it works as well. Mokyr's work demonstrates the importance of scientific literacy and openness to change for long-run economic growth. 

Philippe Aghion and Peter Howitt used mathematical models to reveal the mechanisms of sustained growth. They showed how newer, superior products continuously enter markets and displace companies selling older versions, helping to make Joseph Schumpeter's concept of "creative destruction" mathematically precise in the context of long-run growth.

"The laureates' work shows that economic growth cannot be taken for granted. We must uphold the mechanisms that underlie creative destruction, so that we do not fall back into stagnation," says John Hassler, Chair of the Committee for the prize in economic sciences.

Read the  from the Royal Swedish Academy of Sciences.