Joel Mokyr, Philippe Aghion, and Peter Howitt have been awarded the Nobel Memorial Prize in Economics for their pioneering research on innovation-driven economic growth and the concept of creative destruction — how new technologies replace older ones.
Mokyr, an economic historian, explored long-term innovation patterns through historical evidence, while Aghion and Howitt developed mathematical models explaining how technological change fuels productivity and renewal within economies. Together, their work deepens understanding of how innovation sustains growth across generations.
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