OpinionThe Nobel Nods at Economic Growth:
Joel Mokyr, Philippe Aghion and Peter Howitt explain how knowledge and freedom combine to produce prosperity.
wsj.com/opinion/the-nobel-nods-at-economic-growth-d3260a73
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set of annual international awards, primarily 5 established in 1895 by Alfred Nobel
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Key FactsNobel Prize Honors Innovation-Driven Economic Growth
Oct 13, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: cnn.com
Summary created with AI assistance · Source: cnn.com
- Joel Mokyr, Philippe Aghion, and Peter Howitt were awarded the Nobel Prize for their insights into innovation-driven economic growth.
- Mokyr approached the topic through historical analysis, while Aghion and Howitt applied mathematics to model creative destruction.
- The laureates highlighted that economic growth depends on maintaining the mechanisms behind creative destruction to prevent stagnation.
- The prize money of 11 million Swedish kronor is split equally between Mokyr and the duo of Aghion and Howitt.
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