Nobel Prize for Economics Awarded to Joel Mokyr, Philippe Aghion and Peter Howitt
The Nobel Prize committee awarded the economics award to Joel Mokyr, Philippe Aghion and Peter Howitt for "having explained innovation-driven economic growth".
This year’s laureates in economic sciences explain how innovation provides the impetus for further progress.
According to the committee, technology advances rapidly, affecting everyone, with new products and production methods replacing old ones in a never-ending cycle, resulting in sustained economic growth and a better standard of living.
- Joel Mokyr
- Philippe Aghion
- Peter Howitt
Author's summary: Nobel Prize awarded for explaining innovation-driven economic growth.