Brief by Shorts91 Newsdesk / 10:13am on 13 Oct 2025,Monday International
The 2025 Nobel Prize in Economics has been awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their research on innovation and economic growth. The Nobel committee said their work helps explain how new ideas drive long-term progress. Mokyr was honoured for showing how culture and knowledge support continuous innovation. Aghion and Howitt shared the prize for developing the “creative destruction” theory, which explains how new technologies replace old ones to fuel growth. Their ideas have influenced how governments design policies to support innovation, competition, and sustainable development worldwide. (PC: India Today)
