Inside the 2025 Nobel Prize in Economics: Harnessing Creative Destruction
"Capitalism, then, is by nature a form or method of economic change and not only never is but never can be stationary." - Austrian Economist Joseph Schumpeter (1950)
The 2025 Nobel Prize in Economics was recently awarded to Joel Mokyr, an economic historian at Northwestern University, Philippe Aghion, who is affiliated with universities in France and the U.K., and Peter Howitt, a professor of economics at Brown University.
Philippe Aghion and Peter Howitt worked together for decades to develop and publish a model that makes it possible to better understand business growth - but not just any…
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