Joel Mokyr, Philippe Aghion, Peter Howitt get Nobel Prize in Economics for innovation-driven growth research

The Royal Swedish Academy of Sciences has decided to award the 2025 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel to Joel Mokyr, Philippe Aghion and Peter Howitt.

They were awarded for having explained innovation-driven economic growth” with one half to Mokyr “for having identified the prerequisites for sustained growth through technological progress and the other half jointly to Aghion and Howitt “for the theory of sustained growth through creative destruction.”

Related Business News

World Bank Increases GDP Estimate to 6.5% for 2025-26

The World Bank has raised its forecast for India's Gross Domestic Product (GDP) growth rate to 6.5% for the current fiscal year 2025-26. In its June forecast, the World Bank had projected it at 6.3%.In its South Asia scenario released on Tuesday, the World Bank stated that due to sustained str....

Big Shock to Tata Motors! 21,000 Crore Could Sink in Minutes

Tata Motors Shares: Tata Motors is likely to face a major loss of 21,000 crore rupees. In reality, this crisis has arisen due to a cyber attack on the company's subsidiary Jaguar Land Rover (JLR). Production has come to a halt at JLR's West Midlands and Merseyside factories in Britain. As a re....

Tata Steel Meramandali Drives Tree Plantation in Angul and Dhenkanal

In a joint initiative with the District Administrations of Angul and Dhenkanal, Tata Steel Meramandali (TSM) conducted an extensive tree plantation drive under the theme “Ek Ped Maa Ke Naam 2.0”. Employee volunteers from TSM actively participated in planting saplings across key loc....

Indian Rupee Hits Record Low Against US Dollar, Gold and Silver Reach New Peaks

(Fast Mail):-- Amid the on-going trade war, the Indian rupee continues to decline against the US dollar. The rupee hit a new record low of 88.19, down from 88.30 on the previous Friday.The trade war is likely to maintain pressure on the rupee in the coming period. According to The Economic Tim....

India’s GDP Growth Sparks Enthusiasm, but Contradictions Sound Warning Bells

(Fast Mail):-- India’s GDP grew at a robust 7.8 per cent in the April-June 2025 quarter, a headline figure that garnered praise and reinforced the country’s reputation as one of the fastest-growing major economies. However, amid the celebrations, leading economists and banks ....