Nobel Prize in Economics to Joel Mokyr, Philippe Aghion and Peter Howitt

The Nobel Memorial Prize in Economic Sciences for 2025 has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt “for having explained innovation-driven economic growth” with one half to Mokyr “for having identified the prerequisites for sustained growth through technological progress” and the other half jointly to Aghion and Howitt “for the theory of sustained growth through creative destruction.”

The Royal Swedish Academy of Sciences announced the award on October 13, marking the final prize of this year’s Nobel season.

The Nobel Prize in Economics is known as the Bank of Sweden Prize. It was established in 1968 by the Swedish Central Bank. The prize was selected by the Royal Swedish Academy of Sciences. The Nobel Prize is named in memory of Alfred Nobel.

Since then, the award has been given to a total of 96 individuals. The Nobel Prize is one of the most prestigious awards in the world.