THE POWER OF TRIAD: Three Creative Destruction Theorists Win Nobel Prize in Economic Sciences

CATCH-PHRASE: Innovation-Driven Growth and Creative Destruction

Award breakdown

The prize money was divided in two parts: 

1. Joel Mokyr was awarded half of the 11 million Swedish kronor prize ($1.2 million) "for having identified the prerequisites for sustained growth through technological progress".
2. Philippe Aghion and Peter Howitt shared the other half of the prize for their work on the theory of "sustained growth through creative destruction".

 

Nobel Prize

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Prize in Economic Sciences 2025 - Press release - NobelPrize.org

 

 

Joel Mokyr, Philippe Aghion, and Peter Howitt win Nobel Prize in Economics

AP News

Nobel economics prize goes to 3 researchers for explaining innovation-driven economic growth

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Creative Destruction Theorists Win Nobel Prize for Economics

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Three Share Nobel in Economics for Work on How Technology Drives Growth

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TRT World

Mokyr, Aghion, Howitt win 2025 Nobel for innovation-driven economic research

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Reuters

Trio win 2025 Nobel economics prize for work on innovation and 'creative destruction'

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