- Joel Mokyr, Philip Aghion, and Peter Howitt have received the 2025 Nobel Prize in Economics.
- They were honored for their groundbreaking work on how innovation drives economic growth.
- The Nobel Committee recognized their efforts in explaining innovation-driven economic growth.
- Joel Mokyr studied historical patterns to understand how societies progressed from stagnation to sustained growth.
- He is a Dutch-Israeli-American economic historian working at Northwestern University.
- Mokyr's work demonstrated how historical conditions enabled technological progress to reshape economies.
- Philip Aghion and Peter Howitt developed the theory of creative destruction.
- They presented this theory in a seminal paper published in 1992.
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Awards & Honors
