Mokyr, Aghion, and Howitt win 2025 Nobel Economics Prize
Joel Mokyr, Philippe Aghion, and Peter Howitt have been awarded the 2025 Nobel Prize in Economic Sciences for their work on innovation-driven economic growth, the Royal Swedish Academy of Sciences announced on Monday.
The prize, formally the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, is worth 11 million Swedish crowns ($1.2 million), News.Az reports, citing Reuters.
According to the Academy, the laureates’ research demonstrates that sustained economic growth cannot be taken for granted, emphasizing that economic stagnation, rather than growth, was the historical norm. Their work highlights the importance of innovation and countering threats to continued growth.
The economics award, first given in 1969, is the last of the Nobel prizes announced each year. Past notable winners include Ben Bernanke, Paul Krugman, and Milton Friedman. Last year’s prize went to Simon Johnson, James Robinson, and Daron Acemoglu for research linking colonization to public institutions and long-term economic development.
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