Innovation-Driven Growth: Noble Laureates Illuminate Economic Pathways

Joel Mokyr, Philippe Aghion, and Peter Howitt were awarded the Nobel Memorial Prize in economics for their groundbreaking research into innovation-driven economic growth.

Their work highlighted the necessity of understanding and sustaining the mechanisms of creative destruction, where new and better products replace outdated ones, fostering ongoing economic advancement.

This award underscores the importance of maintaining the conditions essential for continuous innovation, which is vital to prevent economic stagnation.

(With inputs from agencies.)