Trailblazers of Innovation: Nobel Prize Awarded for Economic Insights

In a significant triumph for economic scholarship, Joel Mokyr, Philippe Aghion, and Peter Howitt have been honored with the 2025 Nobel Economics Prize. The Royal Swedish Academy of Sciences recognized their pioneering research focused on innovation-driven economic growth.

This prestigious accolade, officially known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, serves as a testament to the vital role innovation plays in propelling economies forward.

Announced on Monday, this accolade marks the culmination of this year's Nobel Prize announcements and carries a monetary reward of 11 million Swedish crowns, equating to approximately $1.2 million.

(With inputs from agencies.)