Nobel economics prize goes to 3 researchers for explaining innovation-driven economic growth
STOCKHOLM, Sweden — Joel Mokyr, Philippe Aghion, and Peter Howitt were awarded the Nobel Memorial Prize in Economics on Monday for their pioneering research into the impact of innovation on economic growth and the process by which new technologies replace older ones. This fundamental economic concept is widely known as “creative destruction.”
The laureates represent contrasting yet complementary approaches to understanding how innovation drives progress and transforms economies. Mokyr is recognized for his contributions to economic history and the role of knowledge in technological change, while Aghion and Howitt have developed influential theoretical models explaining the dynamics of innovation and growth.
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