The Nobel Prize in Economic Sciences for 2025 has been awarded to Joel Mokyr, Philippe Aghion and Peter Howitt "for their explanation of innovation-driven economic growth."
The prestigious award, officially known as the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel, is the last to be awarded this year and is worth 11 million Swedish kronor ($1.2 million).
"The laureates have taught us that sustainable growth cannot be taken for granted. Economic stagnation, not growth, has been the norm for most of human history. Their work shows that we must be aware of the threats to continued growth and counteract them," the Royal Swedish Academy of Sciences said.
