Mokyr, Aghion & Howitt Win 2025 Nobel Prize in Economics

Current Context: The 2025 Nobel Prize in Economic Sciences was announced on 13 October 2025 and awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt.

• Mokyr was recognized for his research on the historical foundations of sustained technological progress, highlighting how culture and institutions enabled continuous innovation.
• Aghion and Howitt were jointly honored for their theory of creative destruction, which formalized how cycles of innovation replace outdated technologies and drive long-term growth.
• Their combined contributions explain why modern economies achieve self-sustaining development through innovation, competition, and supportive institutions.
• The prize, worth 11 million SEK, was split with half going to Mokyr and the other half shared between Aghion and Howitt.

Question:

Q.1 Who won the 2025 Nobel Prize in Economic Sciences?
a) Abhijit Banerjee, Esther Duflo, and Michael Kremer
b) Joel Mokyr, Philippe Aghion, and Peter Howitt
c) Thomas Piketty, Angus Deaton, and Jean Tirole
d) Paul Romer, Robert Solow, and Joseph Stiglitz

Answer: b) The 2025 Nobel Prize in Economic Sciences was awarded to Joel Mokyr, Philippe Aghion, and Peter Howitt for their work on technological progress, innovation, and economic growth.