Philippe Aghion, Peter Howitt, and Joel Mokyr Awarded 2025 Nobel Prize
Philippe Aghion, Peter Howitt, and Joel Mokyr have been awarded the 2025 Nobel Memorial Prize in Economic Sciences.
The Royal Swedish Academy of Sciences announced the prize
“for having explained innovation-driven economic growth.”
Their studies have shown that
“new products and production methods [replace] old ones in a never-ending cycle”, resulting in sustained economic growth and a better standard of living.
- Philippe Aghion is a professor at the College de France and INSEAD.
- Joel Mokyr is an NBER board member.
- Peter Howitt is a research associate.
Aghion was an NBER research associate for over a decade, affiliated with the Economic Fluctuations and Growth program, while on the Harvard University faculty.
Author's summary: Nobel Prize awarded for innovation-driven economic growth research.
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