Joel Mokyr and Philippe Aghion and Peter Howitt has been awarded the 2025 Nobel Memorial Prize in Economic Sciences by the Swedish Academy announced on Monday, October 13.
Mats Malm, the Permanent Secretary at the Swedish Academy, said, The Nobel Memorial Prize in Economic Sciences for 2025 is awarded to them for " for having explained innovation-driven economic growth" where Joel Mokyr is awarded for "having identified the prerequisites for sustained growth though technological progress.” The other half of the prize is awarded to Philippe Aghion and Peter Howitt for "the theory of sustained growth through creative destruction."
The prize, formally known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968 to honour the legacy of Alfred Nobel, the 19th-century Swedish chemist and businessman. It has been awarded 56 times to a total of 96 laureates, with only three women recipients before 2025.
This year’s announcement marks the conclusion of the Nobel season, following last week’s revelations in medicine, physics, chemistry, literature, and peace.
