(VOVWORLD) -The Royal Swedish Academy of Sciences in Stockholm on Monday announced the 2025 Nobel Prize in Economics to three scientists Joel Mokyr, Philippe Aghion, and Peter Howitt “for having explained innovation-driven economic growth.”
One half of the prize goes to Joel Mokyr (Northwestern University, Evanston, USA) “for having identified the prerequisites for sustained growth through technological progress,” according to the committee.
The other half jointly goes to Philippe Aghion (London School of Economics and Political Science, UK) and Peter Howitt (Brown University, Providence, USA) “for the theory of sustained growth through creative destruction."
The Nobel Prize in Economics, which closed the Nobel week 2025, was not mentioned in the will of scientist Alfred Nobel. It was founded by the Swedish Central Bank (Sveriges Riksbank) in 1968 to honor his legacy.
This Prize had been awarded 56 times to 96 laureates from 1969 to 2024, of whom only three were women. The youngest person to receive this prestigious prize was 46-year-old French economist Esther Duflo in 2019.