Economics Nobel 2025: Mokyr, Aghion and Howitt Honoured
Why in the news
The Royal Swedish Academy of Sciences announced the laureates on 13 October 2025.
Key facts
- Prize money: 11 million SEK, split among laureates.
- Ceremony: 10 December 2025.
| Laureate | Recognised for |
|---|---|
| Joel Mokyr (Northwestern, USA) | Prerequisites for technology-led growth: practical knowledge, science, openness to ideas |
| Philippe Aghion (Collège de France, INSEAD, LSE) | With Howitt, creative destruction and the 1992 growth model |
| Peter Howitt (Brown, USA) | Innovation cycles lifting living standards; managing transitions despite vested interests |
About the prize
- Set up in 1968 by Sveriges Riksbank on its 300th anniversary.
- First laureates (1969): Frisch and Tinbergen.
- Award: gold medal, diploma, cash.
Exam angle
- Theme: creative destruction.