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News|Business and EconomyTrio to share economics Nobel for work on innovation-driven growth‘False Nobel’ recognises work ‘explaining innovation-driven economic growth’.

## Nobel Prize in Economics 2025 Awarded for Innovation-Driven Economic Growth

NBy Nathan ColeOct 13, 20251 min read

Nobel Prize in Economics 2025 Awarded for Innovation-Driven Economic Growth

The Royal Swedish Academy of Sciences announced on Mon, Oct 6, 2025, that the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025 has been awarded for contributions to understanding innovation-driven economic growth. The prize will be shared among Joel Mokyr, Philippe Aghion, and Peter Howitt.

Joel Mokyr, affiliated with Northwestern University in the United States, received half of the prize. His research utilized historical records to analyze changes that occurred during the Industrial Revolution, highlighting the significance of understanding the functionality of technologies for sustained economic growth.

Philippe Aghion, from College de France and The London School of Economics, and Peter Howitt, from Brown University in the US, shared the other half of the prize. They were recognized for developing a mathematical framework for "creative destruction," a theory that explains sustained growth through the replacement of old products by new ones in the marketplace.

The prize will be shared among Joel Mokyr, Philippe Aghion, and Peter Howitt.
Nathan Cole · Thehackingpost

The total cash prize is 11 million Swedish kronor ($1.2 million), which will be divided among the laureates.

Since its inception in 1968 through a donation from the Swedish central bank, the economics prize has been awarded to recognize significant contributions to the field of economics. It is distinct from the original five Nobel Prizes established by Alfred Nobel.

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Based on reporting by Al Jazeera.

AI transparency. This article was produced with the assistance of artificial intelligence and published under human editorial oversight. AI systems can make mistakes. Read how we use AI (EU AI Act, Art. 50).
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