Trio Wins Nobel Economics Prize for Work on Technology-Driven Growth

Trio Wins Nobel Economics Prize for Work on Technology-Driven Growth
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Three experts who pioneered the explanation of how technology fuels economic expansion have been awarded the 2025 Nobel Prize in Economic Sciences, according to The Guardian.

The Royal Swedish Academy of Sciences honored the trio for their research on “innovation-driven economic growth.” The prize was shared by Joel Mokyr, who was recognized for identifying the prerequisites for sustained growth through technological progress, and Philippe Aghion and Peter Howitt, who were credited for their analysis of “creative destruction” as the key mechanism driving growth.

Aghion warned that future growth is threatened by political protectionism and stressed that success hinges on innovation in green industries and developing strict competition policies to prevent tech monopolies from stifling new ideas. The committee emphasized the need to actively maintain the mechanisms that enable this constant renewal.