Announcement of the 2025 Nobel Memorial Prize in Economic Sciences Laureates
During the 2025 Nobel Week, held from October 6 to 13 in Sweden and Norway, the prestigious Nobel Memorial Prize in Economic Sciences was officially awarded to outstanding economists and researchers whose work significantly advances understanding of innovation-driven growth and sustainable development.
This year’s laureates include Joel Mokyr, Philippe Aghion, and Peter Howitt, recognized for their groundbreaking theories explaining how technological progress and creative destruction fuel economic expansion.
Mokyr was honored for his work on the prerequisites for sustainable growth through technological innovation, while Aghion and Howitt received praise for their joint development of the theory of growth driven by innovation and disruption.
The official ceremonies and presentations highlighted the critical role of scientific research in shaping modern economies and fostering long-term prosperity.
By acknowledging these experts, the Nobel Committee emphasizes the importance of innovative ideas and institutional frameworks in ensuring resilient economic progress.
Reflecting on last year’s laureates—Daron Acemoglu, Simon Johnson, and James Robinson—whose research focused on the formation of institutions and their influence on societal prosperity, this year’s awards continue to underscore the significance of understanding the intricate mechanisms behind economic development.