“Nobel Prize in Economics 2025 Awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for Innovation-Driven Economic Growth”.

On 13 October 2025, the Royal Swedish Academy of Sciences announced the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2025, commonly known as the Nobel Prize in Economics, awarded to Joel Mokyr (USA), Philippe Aghion (France), and Peter Howitt (Canada) for their research on innovation-driven economic growth.

      - The prize will be presented on 10 December 2025 in Stockholm, Sweden.

      - From Northwestern University, USA, Mokyr received half of the Nobel Prize for identifying the prerequisites for sustained economic growth through technological progress, emphasizing the role of practical knowledge, scientific understanding, and a culture open to new ideas.

      - Aghion (Collège de France, INSEAD & LSE) and Howitt (Brown University, USA) jointly received half of the Nobel Prize for developing the theory of sustained growth through creative destruction, explaining long-term economic development.

Main Point :-   (i) The Nobel Prize in Economics will be formally presented on 10 December 2025, commemorating the death anniversary of Alfred Nobel, in Stockholm, Sweden.

      (ii) Between 1969 and 2025, the Sveriges Riksbank Prize in Economic Sciences has been awarded 57 times to 99 laureates, including 3 women, recognizing outstanding contributions to economic research.

(iii) The medal of the prize was designed by Swedish artist Gunvor Svensson-Lundqvist, featuring symbolic elements representing economic sciences and innovation.