The Royal Swedish Academy of Sciences has awarded the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion, and Peter Howitt “for having explained innovation-driven economic growth.”
One half of the prize goes to Joel Mokyr “for having identified the prerequisites for sustained growth through technological progress.”
The other half is shared by Philippe Aghion and Peter Howitt “for the theory of sustained growth through creative destruction.”
This year’s award recognizes the researchers’ groundbreaking work explaining how innovation and technological change drive long-term economic growth and shape productivity and societal prosperity.