"Nobel Prize in Economics 2025: P. Aghion, J. Mokyr and P. Howitt on the role of innovation in growth

The Sveriges Riksbank Alfred Nobel Memorial Prize in Economics 2025 is awarded to Joël Mokyr, an Israeli-American citizen, Philippe Aghion from France and Peter Howitt from Canada, "for explaining innovation-led economic growth", announces the Royal Swedish Academy of Sciences on 13/10/2025.

• Half of the 11 M Swedish kronor (around €1 M) will go to: Joël Mokyr (Northwestern University, Evanston, Illinois, USA) "for having identified the preconditions for sustained growth thanks to technological progress",
• the other half jointly to Philippe Aghion (Collège de France and Insead, Paris, France; London School of Economics and Political Science, United Kingdom) and Peter Howitt (Brown University, Providence, Rhode Island, USA) "for the theory of growth sustained by creative destruction".

Ursula von der Leyen, President of the European Commission, writes on LinkedIn: "Congratulations to Philippe Aghion on receiving the Nobel Prize in economics. A proud moment for Europe and a strong reminder that innovation and openness are the foundations of our shared prosperity. Philippe’s…