French economist Philippe Aghion has won the 2025 Nobel Prize in Economics along with Joel Mokyr and Peter Howitt for their research on how innovation fuels long-term growth through “creative destruction” – when new technologies replace outdated ones.
Half of the prize was awarded to Mokyr, a professor at Northwestern University in the United States and at the Eitan Berglas School of Economics at Tel Aviv University in Israel, for identifying the conditions needed for sustained growth through technological progress.
