Joel Mokyr, Philippe Aghion, and Peter Howitt receive the 2025 Nobel Prize in Economic Sciences for explaining how sustained economic growth is generated by technological progress. Aghion and Howitt show that sustained growth emerges from the competition between new and incumbent firms through a process of creative destruction. Mokyr identifies the conditions under which technological progress has flourished since the Industrial Revolution. Their research highlights that economic policy must address innovation, competition, skills, and social mobility jointly rather than in isolation to sustain technological progress.

? 2025 Lukas Rosenberger et al., published by ZBW ? Leibniz-Informationszentrum Wirtschaft.

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1 December 2025

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Wirtschaftsdienst 105(2) , pp.881-885, 2025

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DOI: 10.2478/wd-2025-0226

https://www.scopus.com/pages/publications/105025909107

This Journal article is published under the centre's Trade programme.