Sveriges Riksbank Prize in Economic Sciences 2025: Explaining Innovation-Driven Economic Growth
Phil Thornton
The Sveriges Riksbank Prize in Economic Sciences has been awarded to three professors for demonstrating how innovation drives economic growth, which in turn delivers greater human welfare while consigning outdated technologies to history.
Joel Mokyr, 79, won half of the 11 million Swedish kronor (US$1.2 million) prize in October 2025 for articulating the essential conditions for continuous technological advancement. The other half was awarded jointly to Philippe Aghion, 69, and Peter Howitt,...