Joel Mokyr, Philippe Aghion and Peter Howitt have been awarded the 2025 Nobel Prize in Economics for their pioneering research on innovation, technological change and long-term economic growth.
The 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel has been awarded to Joel Mokyr, Philippe Aghion and Peter Howitt for their influential work linking innovation to sustained economic development, the Royal Swedish Academy of Sciences announced on Monday.
The trio were recognised for “deepening our understanding of how technological progress drives productivity, shapes markets, and transforms societies over time,” the Academy said in a statement.
Mokyr, a professor at Northwestern University, is widely regarded for his historical analysis of the Industrial Revolution and how ideas and institutions influenced the trajectory of economic progress.
His work has shed light on the interplay between culture, science, and innovation in shaping modern economies.
Aghion, currently at the Collège de France and the London School of Economics, and Howitt, an emeritus professor at Brown University, are best known for developing the theory of “creative destruction” in their work on endogenous growth.
Their joint research has helped explain how firms’ incentives to innovate affect competition, policy, and inequality.
The Academy said their findings have had “profound influence” on modern economic policy, from education and R&D investment to antitrust regulation and climate innovation strategies.
Aghion and Howitt’s seminal model, introduced in the early 1990s, built on the Schumpeterian tradition by formalising the dynamic relationship between innovation, firm entry and exit, and macroeconomic performance.
This year’s award highlights the importance of long-run thinking in policymaking, particularly as economies face challenges such as slowing productivity, demographic shifts, and the green transition.
The Economics prize is the last of the six Nobel Prizes to be awarded this year.
The United Nations says Israeli crews have begun bulldozing the UN Relief and Works Agency (UNRWA) headquarters in east Jerusalem. The move comes amid...
Moldova's government in Chisinau has initiated the final legal steps to sever its institutional ties with Moscow’s post-Soviet alliance, marking a d...
Russia launched a combined drone and missile attack on Ukraine early on Tuesday, knocking out power and heating supplies to thousands of apartment bui...
A "calculated campaign" of mass executions, sexual violence, and ethnic targeting is sweeping through Sudan’s Darfur region, the International Crimi...
Dozens of beaches along Australia's east coast, including in Sydney, closed on Tuesday (20 January) after four shark attacks in two days, as heavy rai...
Dozens of beaches along Australia's east coast, including in Sydney, closed on Tuesday (20 January) after four shark attacks in two days, as heavy rains left waters murky and more likely to attract the animals.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 20th of January, covering the latest developments you need to know.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
U.S. President Donald Trump has linked his push to take control of Greenland to his failure to win the Nobel Peace Prize, as tensions with Europe escalate and the European Union considers retaliatory measures that could reignite a transatlantic trade war.
Italian fashion designer Valentino Garavani has died at the age of 93, his foundation said on Monday.
European leaders voiced growing alarm on Sunday over U.S. threats to impose tariffs on eight NATO allies, warning the move could destabilize transatlantic relations and heighten tensions in the Arctic.
Speaking on Armenian public radio on 9 January, Armenia’s Minister of Economy Gevorg Papoyan made some important announcements for 2026. Among them, discussions between Yerevan and Baku over the range of products Armenia can potentially export to Azerbaijan.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
U.S. President Donald Trump said he told NATO chief Mark Rutte that Greenland was critical to global security, underscoring his determination to pursue control of the territory while escalating trade pressure on European allies.
Moldova's government in Chisinau has initiated the final legal steps to sever its institutional ties with Moscow’s post-Soviet alliance, marking a decisive moment in the small Eastern European nation’s pivot towards the West.
Russia launched a combined drone and missile attack on Ukraine early on Tuesday, knocking out power and heating supplies to thousands of apartment buildings in Kyiv, Ukrainian officials said.
A "calculated campaign" of mass executions, sexual violence, and ethnic targeting is sweeping through Sudan’s Darfur region, the International Criminal Court (ICC) has warned, describing a pattern of criminality that is being replicated from city to city with impunity.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 20th of January, covering the latest developments you need to know.
The United States’ renewed push over Greenland is exposing deeper strains in transatlantic relations, as analysts warn Washington’s approach reflects long-standing unilateral tendencies that could test NATO unity and Europe’s influence.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment