The 2025 Nobel Prize in Economics has been awarded to American economists Joel Mokyr, Philippe Aghion, and Peter Howitt, reports Baltimore Chronicle with reference to the Nobel Committee. The laureates were recognized for their groundbreaking work in explaining economic growth driven by innovation. Joel Mokyr received the prize for his research identifying the conditions necessary for sustainable growth through technological advancement. Philippe Aghion and Peter Howitt were honored for developing the theory of sustainable growth through “creative destruction,” a concept that emphasizes the renewal and modernization of economies.
This year’s Nobel Week, held from October 6 to 13, continues with the announcement of winners across all categories. Prior to the economics prize, laureates in Physiology or Medicine, Physics, Chemistry, Literature, and the Nobel Peace Prize had already been revealed.
Earlier we wrote that María Corina Machado awarded 2025 Nobel peace prize for advancing democracy and human rights in Venezuela.