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

Modi govt in ‘panic mode’ over economy, says congress

New Delhi : Congress on Thursday claimed that the Narendra Modi government was in “panic mode” over the state of the economy and accused it of resorting to short-term measures instead of addressing deeper structural issues affecting private investment and growth. In a statement, Co....

Odisha Congress seeks a timeline for Chandikhol Crude Oil Storage Project

Bhubaneswar, May 20 (UNI) The Odisha Congress on Tuesday demanded that the Centre and the State government announce a definite date for the commencement of the proposed Chandikhol crude oil storage project, alleging that the project has remained stalled for over a decade despite repeated promi....

Gold and Silver Prices Decline, Know the New Rates

Gold and silver prices are witnessing continuous fluctuations. On Monday, as soon as the commodity market (MCX) opened, a slight decline was recorded in gold and silver prices.On MCX, the Gold June 5, 2026 contract opened at ?1,52,695 compared to the previous close of ?1,52,699. The Silver May....

Wholesale Inflation Rises to 3.88% in March; Oil and Metals Become Costlier, Sharp Surge in Jewellery Prices

The Wholesale Price Index (WPI)-based inflation rate rose to 3.88 percent in March, up from 2.13 percent in February,the Ministry of Commerce and Industry said on Wednesday. The rise in wholesale inflation in March was primarily driven by an increase in prices of crude petroleum and natural ga....

‘We Will Not Allow China to Buy Iranian Oil’: US Treasury Secretary Scott Bessent

Amid ongoing tensions in the Middle East, the United States has taken a tough stance on China, making it clear that it will not allow Beijing to purchase oil from Iran. US Treasury Secretary Scott Bessent said that the proposed blockade will ensure that no Chinese or other ships can pass throu....