Nobel Prize in Economics Awarded
Joel Mokyr, Philippe Aghion, and Peter Howitt have been awarded the Nobel Memorial Prize in Economics for their research on technological innovation and its impact on economic growth and creative destruction.
The trio, consisting of Mokyr from Northwestern University, Howitt from Brown University, and Aghion from the College of France and the London School of Economics, will share the prize money of 11 million Swedish kroner, approximately $1.2 million.
- Joel Mokyr pioneered a theory on how technological change fuels growth and higher living standards.
- Philippe Aghion and Peter Howitt also contributed significantly to the understanding of cycles of technological innovation and economic growth.
Their work has helped to explain how technological innovation feeds economic growth.
Author's summary: Nobel Prize in Economics awarded to three researchers for their work on technological innovation and economic growth.
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